New guide to the Independent Insurance Authority in Hong Kong launched

Hong Kong is about to establish a unified insurance regulatory regime under the auspices of a new body, to be named the 'Insurance Authority'. The creation and set up of an independent insurance authority is regarded by the Hong Kong Government as the most important regulatory reform in the insurance sector since the passage of … Read more

Hong Kong Court of Appeal finds TVB manager guilty of bribery in high profile case

On 26 October, the Court of Appeal handed down its long-awaited judgment regarding bribery charges against former TVB general manager and TV presenter, Stephen Chan and his assistant, Tseng Pei-kun. The men had twice been acquitted but now face jail terms when sentenced next month. The judgment confirms the limited practical application of the "reasonable excuse" … Read more

People’s Bank of China enters into anti-money laundering cooperation arrangement with Macau’s monetary authority

In what will undoubtedly be seen as another step in Beijing’s effort in the battle against corruption and the proceeds of corrupt transactions, the Chinese central bank has entered into a cooperation agreement with Macau’s Monetary Authority that will result in additional levels of cooperation between the central bank and the Special Administrative Region’s financial … Read more

Thai anti-bribery laws are extended to cover foreign officials and bribery through “associated” persons

Recent amendments to the Organic Act on Counter Corruption B.E. 2542 (1999) have created a new suite of bribery offences for foreign public officials, international organisation workers and state officials who ask for or accept bribes and for individuals and legal entities who offer or give bribes to foreign officials, international organisation workers or state … Read more

New guide to anti-corruption regulation in Asia Pacific launched

Over the past two years we have witnessed an exponential increase in global efforts to combat corruption. Nowhere is this more visible than Asia, where a number of countries have recently passed new anti-corruption legislation or taken steps to strengthen their existing anti-corruption frameworks. Local anti-corruption laws should now be the main compliance concern for … Read more

Hong Kong’s top court clarifies mental element in money laundering offence

In the recent case of HKSAR v Pang Hung Fai (FACC 8/2013), the Court of Final Appeal (the CFA) offered, for the first time, authoritative guidance on the mental element of “having reasonable grounds to believe” under section 25(1) of the Organized and Serious Crimes Ordinance (Cap 455) (the OSCO). Section 25(1) makes it an … Read more