Updates

Covering the latest legal developments that impact individuals and businesses. Stay informed on changes in laws, regulations, and proposed legislative reforms.

Extension of Grant Scheme for OFC & REIT
Extension of Grant Scheme for OFC & REIT 1400 787 Hauzen LLP
SFC announced 3yr extension of grant scheme to subsidise setting up of open-ended fund companies and real estate investment trusts in Hong Kong – open for applications 10 May 2024.

Hong Kong Court of Final Appeal Upholds Validity of Letter of No Consent Regime
Hong Kong Court of Final Appeal Upholds Validity of Letter of No Consent Regime 1400 788 Hauzen LLP
The CFA decision provides relief to fraud victims and clarity to asset tracing practitioners, reinforcing Hong Kong’s reputation as a global financial centre.

Hong Kong Judiciary Revolutionising Court Proceedings With Historic Live Stream
Hong Kong Judiciary Revolutionising Court Proceedings With Historic Live Stream 1400 788 Nigel Binnersley
Curious about what happens in a court hearing? Now you can watch live broadcasts of selective proceedings in Hong Kong courts.   

Hong Kong Implements Mainland Judgments in Civil & Commercial Matters (Reciprocal Enforcement) Ordinance
Hong Kong Implements Mainland Judgments in Civil & Commercial Matters (Reciprocal Enforcement) Ordinance 1400 788 Hauzen LLP
With effect from January 2024, the legislation aims to enhance legal cooperation and facilitate cross-boundary investment between Hong Kong and Mainland.

SFC Publishes VATP Lists & Forms Joint Group with HKPF
SFC Publishes VATP Lists & Forms Joint Group with HKPF 1401 788 Hauzen LLP
The SFC has taken steps to enhance investor protection and awareness of virtual asset trading platforms following the JPEX scandal.

SFC’s Warning on Unregulated VATP JPEX
SFC’s Warning on Unregulated VATP JPEX 1400 788 Hauzen LLP
Hong Kong’s Securities and Futures Commission issued a warning statement clarifying that JPEX is an unlicensed entity and warned the public to be cautious.

Mutual Recognition & Assistance to Insolvency Proceedings in HKSAR & China
Mutual Recognition & Assistance to Insolvency Proceedings in HKSAR & China 1400 788 Byron Chow
Learn about the implications and guidance for Recognition of HKSAR Insolvency Proceedings in Mainland China and vice versa

Updates to Bankruptcy & Winding-Up Proceedings Practice Directions
Updates to Bankruptcy & Winding-Up Proceedings Practice Directions 1400 788 Hauzen LLP
Changes come into effect 17 July 2023, here’s a summary of some which streamline or change the procedure for bankruptcy and winding-up applications in Hong Kong

New Reciprocal Enforcement for Mainland & Hong Kong Effective Soon
New Reciprocal Enforcement for Mainland & Hong Kong Effective Soon 1400 787 Hauzen LLP
Once in effect, a new cross-border enforcement regime would significantly expand scope of reciprocal enforcement and streamline judgment registration procedure.

Recent Enforcement Actions on Money Service Activities
Recent Enforcement Actions on Money Service Activities 1400 788 Hauzen LLP
Efficient and sufficient record-keeping is essential to effective AML/CFT compliance for MSOs, and the C&ED expects adherence with all applicable requirements.
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