Hong Kong Law
Newsletters
Internet Trading Hacking Risks – New SFC Guidelines
SFC-licensed corporations and SFC-registered banking institutions engaged in internet trading are required to implement 20 baseline requirements to enhance cybersecurity resilience and mitigate hacking risks.
Extension of Profits Tax Exemption to Offshore Private Equity Funds in 2015
The Revenue (Profits Tax Exemption for Offshore Funds) Ordinance provides tax exemptions to offshore funds. The Inland Revenue (Amendment) (No. 2) Ordinance extended it to offshore private equity funds.
Updates on New Board Concept Paper
Hong Kong’s Financial Secretary has suggested that new economy companies with weighted voting rights structures may be allowed to list on the Stock Exchange, subject to the imposition of appropriate safeguards.
Court allows Judicial Review of TVB Hong Kong Takeovers Panel Ruling
On 4 October 2017, The Honourable Justice Wong in the Court of First Instance granted leave to Television Broadcasts Limited (TVB) and allowed a judicial review of the Takeovers and Mergers Panel ruling regarding a share buy-back which TVB announced in early 2017.
SFC Regulatory Sandbox Launched and HKMA Announces New Era of Smart Banking
On 29 September 2017, the SFC launched the SFC Regulatory Sandbox & the HKMA also announced several initiatives that prepare Hong Kong to enter a New Era of Smart Banking, including the Enhanced Fintech Sandbox
Hong Kong Stock Exchange issues a Consultation Paper on Delisting and Other Rule Amendments
The HKEx has published a Consultation Paper on Delisting and Other Rule Amendments. It proposes improvements to the delisting framework under the Listing Rules to address prolonged suspensions of trading.
Takeovers Executive Sanctions for Breach of Mandatory General Offer Obligation
In August 2017, the SFC publicly censured and imposed a 24-month cold shoulder order against Mr Yeung Wing Yee for breaching the mandatory general offer obligation under Rule 26.1 of Takeovers Code.
Joint Consultation Conclusions on Proposed Changes to Hong Kong Listing Regulation Released
In September 2017, Hong Kong’s SFC and Stock Exchange released their Joint Consultation Conclusions on Proposed Enhancements to the Exchange’s Decision-Making and Governance Structure for Listing Regulation
Financial Resources Rules: SFC’s Consultation Conclusions and Further Consultation on Changes
The Securities and Futures Commission published consultation conclusions on the regulatory capital regime for LCs engaged in over-the-counter derivatives activities and other proposed changes to the FRR.
Charltons emphasises Hong Kong’s “super connector” role at the Belt and Road Forum in Chengdu
China’s Belt and Road initiative aims to promote infrastructure development in 69 countries, which taken together account for approximately 4.4 billion people or 65% of the world’s population.
Companies (Amendment) Bill 2017 introduces Significant Controllers Register
The Companies (Amendment) Bill 2017 (“Bill”) was published in the Gazette on 23 June 2017. Under the Bill, Hong Kong companies will be required to disclose their significant controllers (beneficial owners).
SFC Proposes Rules and Code for Open-ended Fund Companies (OFCs)
The consultation follows the approval of the Securities and Futures (Amendment) Bill 2016, which introduced the new structure to enable investment funds to be established in Hong Kong in corporate form