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Hauzen LLP

Proposed amendments to PDPO to combat doxxing activities
Proposed amendments to PDPO to combat doxxing activities 1400 787 Hauzen LLP
Proposed amendments include “A person commits an offence if the person discloses any personal data of a data subject without the data subject’s consent,”

Exemptions for senior executives of licensed corporations from compulsory quarantine arrangements
Exemptions for senior executives of licensed corporations from compulsory quarantine arrangements 1402 790 Hauzen LLP
On 28 May 2021, the SFC issued a circular regarding the grant of exemptions for senior executives of licensed corporations from the three-week compulsory quarantine arrangements in Hong Kong under Cap. 599C and Cap. 599E.
Financial Services Regulation

HKEx Publishes Listed Issuer Regulation Newsletter
HKEx Publishes Listed Issuer Regulation Newsletter 1920 1080 Hauzen LLP
Including an update on listed issuers meeting financial reporting obligations during Covid-19, guidance on lending transactions, confirmation on material loan arrangements of counterparties with connected persons when vetting notifiable transactions, and listed issuers’ spin-off activities.

The Securities and Futures Commission (the “SFC”) reprimanded and fined Ewarton Securities Limited
The Securities and Futures Commission (the “SFC”) reprimanded and fined Ewarton Securities Limited 1400 788 Hauzen LLP
The Securities and Futures Commission reprimanded and fined Ewarton Securities Limited for internal control failings and breaches of the SFC’s Code of Conduct.

Virtual Assets: A Regulatory Overview
Virtual Assets: A Regulatory Overview 1400 935 Hauzen LLP
A balanced regulatory approach is crucial to address risks of virtual assets on the one hand, and to minimize the compliance burden to businesses on the other.

The Show Must Go On – Signing with Electronic Signatures in Hong Kong
The Show Must Go On – Signing with Electronic Signatures in Hong Kong 1401 788 Hauzen LLP
Electronic signatures have been recognised in under Hong Kong laws as early as January 2000 with the enactment of the Electronic Transactions Ordinance (Cap. 553). This article provides a summary of the current legal framework governing electronic signatures in commercial settings and in litigation settings.
Financial Services Regulation

Joint statement on IPO-related misconduct
Joint statement on IPO-related misconduct 1920 1080 Hauzen LLP
On 20 May 2021, SFC and HKEx issued a joint statement setting out the general approach taken by them to address regulatory issues formed in recent new listings.  The statement described how the regulators would deploy their respective powers under the SFO, the SMLR and the Listing Rules to tackle issues that mainly involved suspected arrangements to artificially satisfy the initial listing requirements, or facilitate market manipulation of the shares after the IPO.

HKEx Consultation Conclusions on the Main Board Profit Requirement
HKEx Consultation Conclusions on the Main Board Profit Requirement 1401 789 Hauzen LLP
On 20 May 2021, the Stock Exchange of Hong Kong Limited published conclusions to its consultations on the Main Board Profit Requirement.

SFC warns against online investment scams
SFC warns against online investment scams 1400 788 Hauzen LLP
The Securities and Futures Commission has recently concluded an online campaign alerting the public about the use of online platforms to defraud investors. There are many ways to ascertain and verify the identity of the counter-party on the other end of the deal.  Here are some ways to avoid falling victim to investment scams:-

Market Misconduct Tribunal sanctions Magic Holdings International Limited and its five directors
Market Misconduct Tribunal sanctions Magic Holdings International Limited and its five directors 150 150 Hauzen LLP
On 11 March 2021, the Market Misconduct Tribunal fined Magic Holdings International Limited and five of its directors a total of $4 million after they were found to be culpable of late disclosure of inside information on L’Oréal S.A.’s proposed acquisition of Magic in 2013.
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