Insights

VIDEO: Financial Regulation in Hong Kong

VIDEO: Financial Regulation in Hong Kong 600 600 Basil Hwang
Our Basil Hwang and Kelly Ho give us an overview of the financial regulatory sector in Hong Kong.

SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life

SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life 1400 788 Charing
Readers are reminded to be alert if approached with securities & futures investments or dealing with anyone claiming they are licensed / registered in Hong Kong

Joint Operation by Hong Kong & Singapore Regulators & Police on Cross Border Ramp-and-dump Syndicate

Joint Operation by Hong Kong & Singapore Regulators & Police on Cross Border Ramp-and-dump Syndicate 1400 787 Charing
10 individuals, believed to be key members of the syndicate, including some senior executives of Hong Kong listed companies were arrested.

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances 1400 788 Charing
MetLife (now FWD Life) & Metropolitan Life Insurance (now FWD Life Assurance) fined HK$7 million. It is clear that the IA takes these failures very seriously.

PCPD FAQ on EU’s New Standard Contractual Clauses for Personal Data

PCPD FAQ on EU’s New Standard Contractual Clauses for Personal Data 1400 787 Charing
From 27 September 2021 on, data exporters & importers can only conclude contracts incorporating new SCCs for transfer of personal data out of European Union.

Hong Kong Funds Update: 1) Launch of Re-domiciliation Mechanisms; 2) Updates from Companies Registry

Hong Kong Funds Update: 1) Launch of Re-domiciliation Mechanisms; 2) Updates from Companies Registry 1401 788 Charing
Foreign Investment Funds now able take advantage of this mechanism to re-domicile & register in Hong Kong as OFCs or LPFs

New MOU to enhance fintech regulation in GBA

New MOU to enhance fintech regulation in GBA 1400 788 Kelly
This new network link-up creates a one-stop platform for firms to conduct pilot trials of cross-boundary fintech initiatives in HK and GBA cities concurrently.

SFC’s Revised Guidelines on Competence effective 1 January 2022

SFC’s Revised Guidelines on Competence effective 1 January 2022 1401 788 Charing
Following the Securities and Futures Commission’s (“SFC”) publication of the Consultation Conclusions on Proposed Enhancements to the Competency Framework for Intermediaries and Individual Practitioners on 18 June 2021, the proposed enhancements will be reflected in the revised Guidelines on Competence (“Competence Guidelines”) and the revised Guidelines on Continuous Professional Training (“CPT Guidelines”), both of which will become effective on 1 January 2022.  In this two-part series, we will focus on the key changes under the Competence Guidelines for Responsible Officers and Licensed Representatives.

Carried Interest Tax Concession Regime for Private Equity Funds

Carried Interest Tax Concession Regime for Private Equity Funds 1401 788 Charing
On 7 May 2021, the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Ordinance came into operation introducing the much-anticipated Carried Interest Tax Concession Regime (the “Regime”). The Regime operates to provide tax concession at both the salaries tax and profits tax levels.  Eligible Carried Interest will be taxed at 0% profits tax rate and all of the Eligible Carried Interest would also be excluded from computation in the calculation of salaries tax.

Record keeping in the cloud: As an old law falls to a modern reality, do SFC licensees risk repercussions?

Record keeping in the cloud: As an old law falls to a modern reality, do SFC licensees risk repercussions? 150 150 Greg Heaton
Are your company records stored in the cloud? Licensees in Hong Kong beware you are likely breaching the Securities and Futures Ordinance.
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