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SFC’s Revised Guidelines on Competence effective 1 January 2022 1401 788 Charing

SFC’s Revised Guidelines on Competence effective 1 January 2022

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.

Joint Inspection by IA & HKMA on use of premium financing to take out long term insurance policies in Hong Kong 1401 788 Hauzen

Joint Inspection by IA & HKMA on use of premium financing to take out long term insurance policies in Hong Kong

On 30 September 2021, the Insurance Authority and the Hong Kong Monetary Authority published a circular on the IA and the HKMA’s joint inspection exercise relating to premium financing of long term insurance policies in Hong Kong.

Fraud Exception in Summary Judgments Abolished 1401 786 Kelly

Fraud Exception in Summary Judgments Abolished

Victims of fraud can soon seek recourse at an early stage of legal proceedings without lengthy trials and unnecessary legal costs.

HKSAR Govt welcomes passage of Securities and Futures (Amd) Bill 2021 & Limited Partnership Fund and Business Reg Legislation (Amd) Bill 2021 1920 1080 Emma

HKSAR Govt welcomes passage of Securities and Futures (Amd) Bill 2021 & Limited Partnership Fund and Business Reg Legislation (Amd) Bill 2021

On 30 September 2021, the Secretary for Financial Services and the Treasury welcomed the passage of the Securities and Futures (Amendment) Bill 2021 and Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021 by the Legislative Council, which are intended to spur the rapid development of the asset and wealth management business of Hong Kong.

SFC reminds public of importance of seeking Executive’s approval of special deals 1920 1080 Hauzen

SFC reminds public of importance of seeking Executive’s approval of special deals

In the SFC’s Takeovers Bulletin published in September 2021, the Securities and Futures Commission (the “SFC”) reminded the public of the importance of seeking the takeover executive’s (the “Executive”) approval of special deals. This article provides an overview of the recent development in this area.

HKEx Guidance Materials on Paperless Listing & Subscription Regime, Online Display of Documents & Reduction of Types of Documents on Display 1920 1080 Emma

HKEx Guidance Materials on Paperless Listing & Subscription Regime, Online Display of Documents & Reduction of Types of Documents on Display

On 23 September 2021, HKEx published guidance materials on Listing Rule amendments adopted in the Consultation Conclusions on Paperless Listing & Subscription Regime, Online Display of Documents and Reduction of the Types of Documents on Display.

Carried Interest Tax Concession Regime for Private Equity Funds 1401 788 Charing

Carried Interest Tax Concession Regime for Private Equity Funds

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.

Joint announcement by HKMA & PBoC on implementation arrangements of cross-boundary wealth management connect scheme 1400 788 Hauzen

Joint announcement by HKMA & PBoC on implementation arrangements of cross-boundary wealth management connect scheme

In September 2021, the HKMA and the PBoC released a joint announcement on the implementation arrangements for the cross-boundary wealth management connect pilot scheme in the Guangdong-Hong Kong-Macao Greater Bay Area.

SFC’s Consultation Conclusions on Proposals to (1) Implement an Investor Identification Regime and (2) Introduce an Over-The-Counter Securities Transactions Reporting Regime 1401 789 Hauzen

SFC’s Consultation Conclusions on Proposals to (1) Implement an Investor Identification Regime and (2) Introduce an Over-The-Counter Securities Transactions Reporting Regime

Further to our article on the Securities and Futures Commission’s (the “SFC”) consultation on the investor identification regime and an over-the-counter securities transactions reporting regime,…

How do Hong Kong courts determine whether or not to sanction a Scheme of Arrangement to restructure foreign debt? 1402 790 Hauzen

How do Hong Kong courts determine whether or not to sanction a Scheme of Arrangement to restructure foreign debt?

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.

HKCGI’s Guidance Note on Securities Law and Regulation 1920 1080 Emma

HKCGI’s Guidance Note on Securities Law and Regulation

On 5 September 2021, the Hong Kong Chartered Governance Institute issued a guidance note on securities law and regulation.

SFC Licensed Intermediaries: A reminder of your self-reporting obligation 1400 788 Charing

SFC Licensed Intermediaries: A reminder of your self-reporting obligation

If you are a SFC-licensed intermediary, then you are subject to the self-reporting obligation as set out in paragraph 12.5 of the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (the “Code”).

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