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In Tam Sze Leung & Ors v Commissioner of Police [2021] HKCFI 3118, a judicial review case, the Court of First Instance found the longstanding practice of the Hong Kong Police in effecting an informal freeze against bank accounts through the use of “letters of no consent” (LNCs) (the No Consent Regime) to be unconstitutional. Read more
The Hong Kong Monetary Authority (HKMA) has recently issued its Discussion Paper on Crypto-assets and Stablecoins, setting out the regulatory landscape globally and in other jurisdictions, as well as the current landscape in Hong Kong, and how it believes the Hong Kong regulatory framework should be expanded to cover payment-related stablecoins. Read more
Welcome to the Winter 2021 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. Read more
On 4 October 2021, the Securities and Futures Commission (SFC) published a circular (with appendices) and a report on operational resilience and remote working. Read more
The Hong Kong Securities and Futures Commission (SFC) has recently announced a disciplinary action against a licensed corporation and its manager-in-charge (MIC) for internal control failures relating to its placing activities and recording of client order instructions. Read more
In this blog post, we draw out from the enforcement cases the regulatory expectations on sponsors where red flags, such as third-party payments and documentary irregularities, are discovered during the IPO process or where there are heightened risks due to material distributorships. Read more
The Hong Kong Stock Exchange has launched a consultation paper on proposals to create a listing framework for special purpose acquisition companies (SPACs) in Hong Kong. Read more
Welcome to the Summer 2021 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. Read more
