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SFC licensing and compliance hints

Preparing a successful RO application Making an RO application is not any harder than applying to be a licensed representative. However, it does take longer to prepare. In addition… LEARN MORE

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Multinational bank fined for telephone recording breaches

On 10 September 2019, the Securities and Futures Commission (SFC) announced a public reprimand and a HK$2.1 million fine for a multinational bank for failures in complying with… LEARN MORE

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New licence requirement for depositories of public funds

The Hong Kong Securities and Futures Commission (SFC) has issued a consultation paper (Consultation) that proposes a new licensing regime for trustees and custodians (depositories)… LEARN MORE

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Licensing conditions for managing virtual assets portfolios

The Securities and Futures Commission (SFC) announced a regulatory framework for virtual assets on 1 November 2018. Our article of 22 November 2018 explains the framework and… LEARN MORE

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Employment contract: decision on school vs teacher dispute sheds light on significance of proper drafting

Employment contracts almost invariably contain a clause specifying the notice period required for the parties to unilaterally terminate the employment relationship. However, what… LEARN MORE

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Top 10 tips for managing SFC inspection opening meetings

The Securities and Futures Commission (SFC) conducts regular routine inspections on all licensed corporations to check their compliance with the Securities and Futures Ordinance,… LEARN MORE

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SFC licensing and compliance hints

Can overseas compliance officers handle online SFC submissions? The answer is yes. Since 23 November 2018, any person authorised by the board can submit corporate notifications… LEARN MORE

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Mainland China briefing: PFM WFOEs set to enter into the public fund industry

On 17 June 2019, the Chinese and UK governments published the Policy Outcomes (Policy Outcomes) (available here) of the 10th UK-China Economic and Financial Dialogue. The Policy… LEARN MORE

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1MDB saga: comparing the threshold for personal liability for company offences under HK and Malaysia’s securities law
24 September 2019, Securities and Futures Commission , Regulatory , Investment Funds, Newsletter, by Jack Hung, Goofy Chan

Background In December 2018, Malaysia charged three Goldman Sachs subsidiaries and two employees under section 179 of the Capital Markets and Services Act 2007 (CMSA) for their… LEARN MORE

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Mutual recognition of funds: SFC and FCA sign addendum in preparation for Brexit

On 12 September 2019, the Securities and Futures Commission (SFC) and the UK’s Financial Conduct Authority (FCA) published an addendum to the Memorandum of Understanding (MoU)… LEARN MORE

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