Legislative Update

PCPD Issues Guidance Note on Data Security Measures
PCPD Issues Guidance Note on Data Security Measures 1400 787 Hauzen
With data breaches and compliance actions on the rise, the Office of the Privacy Commissioner for Personal Data issued new guidance on data security measures.

SFC proposes amendments to Securities and Futures Ordinance to strengthen enforcement
SFC proposes amendments to Securities and Futures Ordinance to strengthen enforcement 1400 788 Hauzen
The SFC is accepting comments on its proposed amendments by no later than 12 August 2022.

Consultation on New Type 13 Regulated Activity
Consultation on New Type 13 Regulated Activity 1400 788 Hauzen
In Feb 2022, SFC released its Consultation Conclusions on the Proposed Regulatory Regime for Depositaries of SFC-authorised Collective Investment Schemes.

New Investigatory Powers for Privacy Commissioner for Personal Data to Combat Doxxing
New Investigatory Powers for Privacy Commissioner for Personal Data to Combat Doxxing 1400 787 Hauzen
With the passing of the Personal Data Ordinance 2021, the Commissioner is now empowered in-line with other regulatory bodies like SFC and Insurance authority.

Employment & Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 Gazetted
Employment & Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 Gazetted 1400 788 Hauzen
Abolishes use of accrued benefits of employers’ mandatory contributions under Mandatory Provident Fund scheme to offset severance payment & long service payment.

Discussion Paper: Crypto-assets & Stablecoins
Discussion Paper: Crypto-assets & Stablecoins 1400 788 Kelly Ho
The HKMA has issued a discussion paper on crypto-assets and stablecoins, inviting views on potential regulatory approaches until 22 March 2022.

Insurance Authority Publishes an Explanatory Note on “Regulated Activity”
Insurance Authority Publishes an Explanatory Note on “Regulated Activity” 1400 788 Hauzen
An important consideration for currently unregulated entities providing insight into IA’s assessment whether activities will or won’t fall under regulatory regime of Insurance Ordinance.

Public Consultation on HK’s Copyright Regime
Public Consultation on HK’s Copyright Regime 1400 788 Kelly Ho
This much-anticipated consultation is based on the key proposals contained in the 2014 Bill, which could not survive the previous legislative process.

SFC’s Revised Guidelines on Competence effective on 1 January 2022 – Part II
SFC’s Revised Guidelines on Competence effective on 1 January 2022 – Part II 1401 788 Hauzen

We return with the second part to our two-part series on the Consultation Conclusions on Proposed Enhancements to the Competency Framework for Intermediaries and Individual Practitioners published on 18 June…

SFC’s Revised Guidelines on Competence effective 1 Jan 2022
SFC’s Revised Guidelines on Competence effective 1 Jan 2022 1401 788 Hauzen
In this two-part series, we will focus on the key changes under the Competence Guidelines for Responsible Officers and Licensed Representatives.
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