Hong Kong Securities and Futures Commission seeks to bolster investor compensation remedies as part of a package of enforcement-related reforms

The Hong Kong Securities and Futures Commission’s (SFC) proposal for sweeping enforcement-related reforms would significantly impact the regulatory landscape in Hong Kong.  If the proposals are adopted as drafted, firms and individuals will need to prepare themselves for the more aggressive enforcement action and potentially greater financial consequences. Our detailed e-bulletin on the proposed reform … Read more

Herbert Smith Freehills secures further victory in Hong Kong’s Court of Appeal for bank in defending liquidator claim for fraud

Last week, the Hong Kong Court of Appeal refused to grant liquidators (the “Liquidators“) of Galleria (Hong Kong) Limited (“Galleria“), a Hong Kong company, leave to appeal to the Court of Final Appeal in relation to their action against one of Galleria’s former lenders (the “Bank“) for knowing receipt, dishonest assistance and fraudulent trading. The … Read more

HONG KONG UPDATE: REMOVAL OF MPF OFFSETTING ARRANGEMENTS ON THE WAY

The long-awaited changes, which will abolish the current MPF offsetting arrangements against severance or long service payment, have been published, introduced and passed as one of the first bills for the 2022 legislative session. This article gives an overview of the changes and transitional arrangements. Abolishing the offsetting arrangement Currently, employers are permitted to offset … Read more

Hong Kong Court of Appeal rules on landmark case regarding escalation clauses

Herbert Smith Freehills has secured an important judgment from the Hong Kong Court of Appeal, C v D [2022] HKCA 729, regarding escalation clauses – contractual provisions which require negotiation or mediation before either party can begin formal proceedings. These clauses are intended to promote the efficient resolution of disputes, but often lead to costly … Read more

Future of Consumer APAC: Climate change and ESG litigation trends in the consumer sector

Mark Smyth (Partner, Sydney) and Jojo Fan (Partner, Hong Kong) discuss the rapidly increasing developments in climate change and ESG litigation globally including greenwashing, inadequate disclosure and challenges for manufacturing and governments. They share their insights on what the future of climate litigation may hold for the consumer sector. Watch Listen About the Future of … Read more