Financial Markets

SFC’s new initiative to warn against unauthorised investment schemes

SFC’s new initiative to warn against unauthorised investment schemes 1400 935 Charing
The Securities and Futures Commission (the “SFC”) launched a new initiative to warn the public against unauthorised investment arrangements which are suspected to be collective investment schemes (“CIS”).

Guideline on Fit and Proper Criteria for Licensing of Money Lenders

Guideline on Fit and Proper Criteria for Licensing of Money Lenders 1400 788 Louise
On 29 January 2021, the Companies Registry (the “CR”) published the Guideline on Fit and Proper Criteria for Licensing of Money Lenders to outline the criteria and matters that the CR considers in determining the fitness and properness of applicants for money lenders licences.

The Securities and Futures Commission warns unregulated virtual asset platforms

The Securities and Futures Commission warns unregulated virtual asset platforms 1400 788 Hugo
The Securities and Futures Commission warns unregulated virtual asset platforms

Bills for re-domiciliation of foreign investment funds gazetted

Bills for re-domiciliation of foreign investment funds gazetted 1400 788 Charing
On 2 July 2021, the Government gazetted the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021  (collectively, the “Bills”).  The Bills sets out the respectively scheme for foreign investment funds to be re-domiciled and registered in Hong Kong as open-ended fund companies (“OFC”) or limited partnership funds (“LPFs”).

Court of Appeal grants SFC compensation orders against former directors of EganaGoldpfeil

Court of Appeal grants SFC compensation orders against former directors of EganaGoldpfeil 1400 788 Hugo
Court of Appeal grants the Securities and Futures Commission $622 million compensation orders against former directors of EganaGoldpfeil (Holdings) Ltd.

Commencement dates for new inspection regime under Companies Ordinance

Commencement dates for new inspection regime under Companies Ordinance 1401 789 Charing
HKSAR published in the Gazette on 18 June 2021 the following commencement notices and subsidiary legislation for implementation of the inspection regime.

SFC suspends a Responsible Officer of GEO Securities Ltd

SFC suspends a Responsible Officer of GEO Securities Ltd 1400 788 Hugo
The Hong Kong Securities and Futures Commission suspends a Responsible Officer of GEO for breach of licensing conditions.

Exemptions for senior executives of licensed corporations from compulsory quarantine arrangements

Exemptions for senior executives of licensed corporations from compulsory quarantine arrangements 1402 790 Louise
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.

FSTB Concludes Landmark Consultation on New Licensing Regime for Virtual Assets Services Providers

FSTB Concludes Landmark Consultation on New Licensing Regime for Virtual Assets Services Providers 1400 788 Basil Hwang

After a three-month consultation (see our previous news update here) on the legislative proposal to introduce a new licensing regime for virtual asset services providers (“VASPs”) with an objective of…

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 Charing
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.
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