Hong Kong

Consultation conclusions published in Hong Kong on protected arrangements regulation under proposed resolution regime

The Financial Services and the Treasury Bureau, jointly with the Hong Kong Monetary Authority, the Securities and Futures Commission and the Insurance Authority (together, Authorities) published their conclusions on the consultation relating to the proposed regulations on protected arrangements (PARs) … Continue reading

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Filed under Hong Kong, International

Government proceeds with proposals to enhance Hong Kong regulations on anti-money laundering and counter-terrorist financing

In 2018, Hong Kong's regime will be subject to mutual evaluation with those of other members of the Financial Action Task Force (FATF). FATF sets international standards for anti-money laundering and counter-terrorist financing regulation and reviews the effectiveness of regulation … Continue reading

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Filed under Bribery and Corruption, Hong Kong, Uncategorized

SFC and HKMA continue to prioritise AML/CFT compliance with six new disciplinary actions in Hong Kong

Since early March 2017, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) in Hong Kong have collectively taken disciplinary actions against five regulated entities and an individual relating to breaches of anti-money laundering (AML) and … Continue reading

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Filed under Asia, Hong Kong, Sanctions and Money Laundering

Hong Kong Court of Final Appeal quashes conviction of TVB manager in high profile bribery case

The Court of Final Appeal has handed down an important judgment regarding bribery charges against former TVB general manager and TV presenter, Stephen Chan and his assistant, Tseng Pei-kun. In a case spanning seven years, Chan and Tseng were twice … Continue reading

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Filed under Asia, Bribery and Corruption, Hong Kong

Bank win in mis-selling case confirmed by Hong Kong’s highest court

On 17 February 2017, the Hong Kong Court of Final Appeal brought to a close the long-running case of DBS Bank (Hong Kong) Limited v Sit Pan Jit (FAMV 45/2016). The dispute concerned a claim by DBS Bank (Hong Kong) … Continue reading

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Filed under Asia, Hong Kong

Hong Kong court convicts and sentences former Chief Executive

Last Friday, the former chief executive of Hong Kong, Donald Tsang Yam-kuen, was convicted by a criminal court on a charge of misconduct in public office. This is a first-of-its-kind conviction and again signals the willingness of Hong Kong's Department … Continue reading

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Filed under Asia, Bribery and Corruption, Corporate Crime, Hong Kong

Recent SFC actions highlight increased regulatory focus on directors in Hong Kong, including INEDs

The Securities and Futures Commission (SFC) in Hong Kong has recently sought disqualification orders against listed company directors in a number of court actions commenced in the past few months.  The proceedings against the directors have been brought under section … Continue reading

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Filed under Asia, Hong Kong

Hong Kong SFC urges intermediaries to review compliance with AML/CFT requirements following identification of deficiencies

On 26 January 2017, the Securities and Futures Commission (SFC) issued a circular (with Appendix 1, Appendix 2 and Appendix 3) highlighting its concerns regarding compliance by licensed corporations (LCs) and associated entities (AEs) with anti-money laundering and counter financing … Continue reading

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Filed under Asia, Hong Kong, Sanctions and Money Laundering

Hong Kong regulators issue guidance to sponsors, underwriters and placing agents on GEM initial public offerings

New listings on the Growth Enterprise Market (GEM) in Hong Kong have been repeatedly in the headlines in recent years for dramatic share price increases on their listing debuts and high share price volatility in post-listing periods. This has led to … Continue reading

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Filed under Asia, Hong Kong

Corporate Crime Monthly Update January 2017

Welcome to the January 2017 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, … Continue reading

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Filed under Bribery and Corruption, China, Corporate Crime, Dubai, EU, European Regulation, Germany, Hong Kong, India, Indonesia, International, Investigations, Japan, Sanctions and Money Laundering, UAE, UK Government, US