Updates

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

Employment & Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 Gazetted
Employment & Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 Gazetted 1400 788 Hauzen LLP
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.

SFC Reprimands & Fines Fulbright Securities $3.3M, Suspends License of RO
SFC Reprimands & Fines Fulbright Securities $3.3M, Suspends License of RO 1400 788 Hauzen LLP
Key takeaway is that SFC won’t hesitate to sanction both licensed corporation and licensed person and attribute the misconduct to licensed person.

Insurance Authority Publishes an Explanatory Note on “Regulated Activity”
Insurance Authority Publishes an Explanatory Note on “Regulated Activity” 1400 788 Hauzen LLP
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.

Court Finds Trio Insider Dealing in TeleEye Shares & Order Disgorgement of Profits
Court Finds Trio Insider Dealing in TeleEye Shares & Order Disgorgement of Profits 1400 788 Hauzen LLP
We remind the reader that there are serious consequences to insider dealing and for failing to respond to SFC’s enquiries and investigation. 

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 LLP

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 LLP
In this two-part series, we will focus on the key changes under the Competence Guidelines for Responsible Officers and Licensed Representatives.

How do Hong Kong courts determine whether or not to sanction a Scheme of Arrangement to restructure foreign debt?
How do Hong Kong courts determine whether or not to sanction a Scheme of Arrangement to restructure foreign debt? 1402 790 Hauzen LLP
When a company is insolvent, it is possible that the creditors would agree on a scheme of arrangement to restructure its debt. Sometimes, the courts will be asked to sanction such scheme. This article examines what factors the court will take into account.

A milestone for the application by Hong Kong liquidators for recognition and assistance in the Mainland
A milestone for the application by Hong Kong liquidators for recognition and assistance in the Mainland 1400 787 Hauzen LLP
Under the cooperation mechanism, the Mainland and Hong Kong jurisdictions agreed to the terms that several cities, such as Shanghai, Shenzhen and Xiamen in the Mainland and Hong Kong would mutually recognize and assist each other in matters regarding insolvency.
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