HK Court to Go Ahead with Keepwell Claim
Claims under a Keepwell Deed, despite ongoing insolvency proceedings in PRC, should be determined in Hong Kong according to its exclusive jurisdiction clause.
Claims under a Keepwell Deed, despite ongoing insolvency proceedings in PRC, should be determined in Hong Kong according to its exclusive jurisdiction clause.
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.
Readers are reminded to be alert if approached with securities & futures investments or dealing with anyone claiming they are licensed / registered in Hong Kong
10 individuals, believed to be key members of the syndicate, including some senior executives of Hong Kong listed companies were arrested.
Amended Listing Rules and CG Code came into effect on 1 Jan 2022, and will apply to CG reports for financial year commencing on or after 1 Jan 2021.
MetLife (now FWD Life) & Metropolitan Life Insurance (now FWD Life Assurance) fined HK$7 million. It is clear that the IA takes these failures very seriously.
Abolishes use of accrued benefits of employers’ mandatory contributions under Mandatory Provident Fund scheme to offset severance payment & long service payment.
The HKMA has issued a discussion paper on crypto-assets and stablecoins, inviting views on potential regulatory approaches until 22 March 2022.
While the implications of this decision remain to be seen, victims of fraud are still recommended to make a police report in any event.
Key takeaway is that SFC won’t hesitate to sanction both licensed corporation and licensed person and attribute the misconduct to licensed person.
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.
This much-anticipated consultation is based on the key proposals contained in the 2014 Bill, which could not survive the previous legislative process.
To enhance and streamline the listing regime for overseas issuers. The amended Listing Rules and the new guidance materials will take effect from 1 January 2022.
We remind the reader that there are serious consequences to insider dealing and for failing to respond to SFC’s enquiries and investigation.
On 5 November 2021, the Exchange published guidance on climate disclosures and analysis of IPO applicants’ ESG practice disclosure in 2020/2021.
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