Tag Archives: Hong Kong

Hong Kong open-ended fund company regime expected to commence on 30 July 2018

On 18 May 2018, the Hong Kong Securities and Futures Commission (SFC) published the conclusions to its consultation on the detailed legal and regulatory requirements applicable to the upcoming open-ended fund company (OFC) regime. The detailed requirements are set out in the Securities and Futures (Open-ended Fund … Continue reading

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Filed under Announcements, Herbert Smith Freehills, Hong Kong, Non-UK regulation, Regulatory Reform, Sector Updates by Herbert Smith Freehills

HONG KONG SFC ISSUES DISCLOSURE REQUIREMENTS FOR DISCRETIONARY ACCOUNTS

On 23 May 2018, the Securities and Futures Commission (SFC) published its consultation conclusions on disclosure requirements for discretionary accounts (Consultation Conclusions). They consist of amendments to the Code of Conduct for Persons Licensed by or Registered with the Securities … Continue reading

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Filed under Announcements, Hong Kong

HONG KONG SFC PROVIDES UPDATE ON MIC REGIME AND ANNOUNCES THEMATIC REVIEW OF LICENSED CORPORATIONS’ GOVERNANCE

In the latest issue of its SFC Compliance Bulletin: Intermediaries published on 16 May 2018, the Securities and Futures Commission (SFC) provides an update on the implementation of the Manager-in-Charge (MIC) regime and announces that it will conduct a thematic … Continue reading

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Filed under Asia, Hong Kong, Sector Updates by Herbert Smith Freehills

HONG KONG INSURANCE AUTHORITY PUBLISHES DRAFT ENTERPRISE RISK MANAGEMENT GUIDELINE FOR CONSULTATION

The Hong Kong Insurance Authority (IA) has launched a consultation on a draft Guideline on Enterprise Risk Management (ERM), as part of the qualitative (ie, Pillar 2) requirements under the proposed risk-based capital (RBC) regime.

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Filed under Hong Kong, Insurance, Regulatory Reform

MONEY LAUNDERING AND TERRORIST FINANCING RISKS FACING HONG KONG’S FINANCIAL INSTITUTIONS AND PAYMENT SYSTEMS

The Hong Kong government has published a report detailing the money laundering (ML) and terrorist financing (TF) risk assessment of Hong Kong. This follows the recommendations of the Financial Action Task Force (FATF) that jurisdictions identify and assess their ML/TF … Continue reading

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Filed under Asia, Bribery and Corruption, Corporate Crime, Hong Kong, Investigations, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

HONG KONG GOVERNMENT ISSUES IMPORTANT MONEY LAUNDERING AND TERRORIST FINANCING RISK ASSESSMENT

The government has this week published a comprehensive report detailing Hong Kong’s Money Laundering and Terrorist Financing (ML/TF) Risk Assessment. This is the product of a year’s consultation, data analysis and stakeholder engagement by the government.

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Filed under Asia, Bribery and Corruption, Corporate Crime, Hong Kong, Investigations, Sanctions and Money Laundering

NEW BENEFICIAL OWNERSHIP REGIME IN INDONESIA POSES COMPLIANCE RISKS FOR CORPORATES

Effective from 5 March 2018, all corporations in Indonesia are required to disclose at least one person as their beneficial owner upon registering for business, pursuant to the Presidential Regulation (Perpres 13/2018) signed by President Joko Widodo on 1 March … Continue reading

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Filed under Asia, Bribery and Corruption, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

HONG KONG SFC RELEASES THEMATIC REVIEW REPORT ON ALTERNATIVE LIQUIDITY POOLS

Earlier this week, the SFC released a circular and a report in relation to its thematic review to assess compliance with the regulatory requirements for Alternative Liquidity Pools (ALPs, commonly known as “dark pools”) by licensed corporations (LCs) and to … Continue reading

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Filed under Hong Kong, Regulatory Reform, Sector Updates by Herbert Smith Freehills

Corporate Crime update – March 2018

Welcome to the March 2018 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 Asia, Australia, Bribery and Corruption, Corporate Crime, Draft Legislation, Europe, Herbert Smith Freehills, HM Treasury, Investigations, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

Corporate Crime update – February 2018

Welcome to the February 2018 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, Europe, Germany, Hong Kong, India, Investigations, Japan, Malaysia, Middle East, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills, Thailand, UK, US