Updates

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

Guideline on Submission of Business Plan by Applicant of a Money Lenders Licence

Guideline on Submission of Business Plan by Applicant of a Money Lenders Licence 1401 786 Hauzen LLP
Further to our article on the publication of the Guideline on Fit and Proper Criteria for Licensing of Money Lenders, on 29 January 2021, the Companies Registry published another Guideline on Submission of Business Plan by Applicant of a Money Lenders Licence.

Consultation on Proposed Code of Practice for Third Party Funding in Mediation

Consultation on Proposed Code of Practice for Third Party Funding in Mediation 1400 935 Hauzen LLP
On 16 August 2021, the Department of Justice launched a two month public consultation to seek comments on the draft Code of Practice for Third Party Funding of Mediation (the “Code”).

HKMA’s Guideline on Certification of Funds for Carried Interest Tax Concession

HKMA’s Guideline on Certification of Funds for Carried Interest Tax Concession 1401 789 Hauzen LLP
The Hong Kong Monetary Authority on 16 July 2021 issued a Guideline on Fund Certification for Carried Interest Tax Concession under Schedule 16D to the Inland Revenue Ordinance (Cap. 112).

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.

Launch of grant scheme for open-ended fund companies and real estate investment trusts

Launch of grant scheme for open-ended fund companies and real estate investment trusts 1401 788 Hauzen LLP
Hong Kong’s Financial Secretary announces subsidies for open-ended fund companies to set up in or re-domicile and Real Estate Investment Trusts to list in HK.

Enforcement of Civil Judgments of Matrimonial and Family Cases in Hong Kong and Mainland China

Enforcement of Civil Judgments of Matrimonial and Family Cases in Hong Kong and Mainland China 1400 787 Hauzen LLP
Hong Kong’s Legislative Council passed the Mainland Judgments in Matrimonial and Family Cases (Reciprocal Recognition and Enforcement) Ordinance

Proposed amendments to PDPO to combat doxxing activities

Proposed amendments to PDPO to combat doxxing activities 1400 787 Hauzen LLP
Proposed amendments include “A person commits an offence if the person discloses any personal data of a data subject without the data subject’s consent,”

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.

Judiciary Consultation on the Legislative Amendments to Enable Remote Hearing

Judiciary Consultation on the Legislative Amendments to Enable Remote Hearing 1400 788 Hauzen LLP
The Judiciary Administration published a legislative proposal to enable remote hearing on February 2021
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