Financial Services Regulation

Carried Interest Tax Concession Regime for Private Equity Funds
Carried Interest Tax Concession Regime for Private Equity Funds 1401 788 Hauzen LLP
New regime operates to provide tax concession at both the salaries tax and profits tax levels.  

Joint announcement by HKMA & PBoC on implementation arrangements of cross-boundary wealth management connect scheme
Joint announcement by HKMA & PBoC on implementation arrangements of cross-boundary wealth management connect scheme 1400 788 Hauzen LLP
In September 2021, the HKMA and the PBoC released a joint announcement on the implementation arrangements for the cross-boundary wealth management connect pilot scheme in the Guangdong-Hong Kong-Macao Greater Bay Area.

SFC’s new initiative to warn against unauthorised investment schemes
SFC’s new initiative to warn against unauthorised investment schemes 1401 788 Hauzen LLP
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 1401 786 Hauzen LLP
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.

Bills for re-domiciliation of foreign investment funds gazetted
Bills for re-domiciliation of foreign investment funds gazetted 1400 788 Hauzen LLP
Exciting possibilities for hedge funds, private equity funds and others, whether close-ended or open-ended, to move their domicile to Hong Kong.

Court of Appeal grants SFC compensation orders against former directors of EganaGoldpfeil
Court of Appeal grants SFC compensation orders against former directors of EganaGoldpfeil 1401 786 Hauzen LLP
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 1400 787 Hauzen LLP
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 Hauzen LLP
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 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.
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