On 24 February 2021, the Finance Secretary Paul Chan delivered the 2021-22 Budget which highlighted upcoming government initiatives to promote the establishment of and re-domiciliation… LEARN MORE
Introduction and summary As part of a longstanding Government policy to attract private equity (“PE”) and investment fund operations to Hong Kong, the Inland Revenue (Amendment)… LEARN MORE
On 8 February 2021, The Securities and Futures Commission (SFC) published a consultation paper on (i) the proposed code of conduct on bookbuilding and placing activities in equity… LEARN MORE
The Hong Kong Monetary Authority (the “HKMA”) recently issued a consultation on a revised SPM module (IC-6). IC-6 specifies the minimum standards that authorised institutions… LEARN MORE
The HKMA published a report titled “AML/CFT Regtech: Case Studies and Insights” highlighting the opportunities that Regtech offers to transform the effectiveness and efficiency… LEARN MORE
The ISDA’s IBOR Fallbacks Supplement (the “Supplement”) and IBOR Fallbacks Protocol (the “Protocol”) were launched on 23 October 2020. The Supplement amends ISDA’s standard interest… LEARN MORE
On 11 January 2021, IBA and Refinitiv launched their respective Sterling Overnight Index Average (“SONIA”) term rates (“Term SONIA”). Term SONIA, which is a forward-looking risk-free… LEARN MORE
On 12 February 2021, UK Finance published a guide to LIBOR discontinuation for banks and lenders (“Guide”). The Guide provides a progress check on the LIBOR transition and identifies… LEARN MORE
The Insurance (Amendment) (No. 2) Ordinance 2020 (the “IAO”) was enacted in July 2020. The IAO introduces an insurance group-wide supervision (“GWS”) framework to empower the… LEARN MORE
The FSI has published the BIS’s research paper titled “Fintech regulation: how to achieve a level playing field” in February 2021 (the “Paper”). The Paper explores how regulation… LEARN MORE