APAC MONTHLY PRIVATE WEALTH LEGAL DEVELOPMENTS – MARCH 2024

    Hong Kong Retail trader sentenced to 18 months’ imprisonment for securities fraud via illegal short selling The Eastern Magistrates’ Court has sentenced Ms Christine Yeung Tak Sum, a retail trader, to 18 months’ imprisonment following her conviction in February 2024 for securities fraud involving illegal short selling (see our previous updates in November 2023 and February 2024). This is the … Read more

    APAC Monthly Private Wealth Legal Developments – January 2024

    Hong Kong HKMA and PBoC announce six policy measures to deepen Hong Kong-Mainland financial cooperation The HKMA and the People’s Bank of China (PBoC) have announced six policy measures to deepen financial cooperation between Hong Kong and the Mainland.  This was welcomed by the Hong Kong Government and discussed by the HKMA’s Chief Executive, Mr Eddie Yue, at a press conference. … Read more

    Deal or No Deal? The High-Stakes Game of Contesting a Will with a No-Contest Provision Under the 1975 Act

    In Sim v Pimlott and others [2023] EWHC 2296 (Ch), the High Court considered the efficacy of “no-contest clauses” in the context of proceedings under the Inheritance (Provision for Family and Dependants) Act 1975 (the “1975 Act”). No contest clauses (sometimes referred to by their Latin tag “in terrorem clauses”) are designed to heavily disincentivise beneficiaries from challenging … Read more

    APAC Monthly Private Wealth Legal Developments – December 2023

    Hong Kong SEHK, HKFE and HKCC reminds participants of implementation of enhancements to position limit regime on 22 December 2023 The Stock Exchange of Hong Kong Limited (SEHK), Hong Kong Futures Exchange Limited (HKFE) and HKFE Clearing Corporation Limited (HKCC) have issued circulars to notify participants that the amendments to the relevant rules and procedures for the purpose of implementing … Read more

    APAC Monthly Private Wealth Legal Developments – November 2023

    Hong Kong HKSCC reminds market participants about launch of FINI platform on 22 November 2023 and related rules and procedures The Hong Kong Securities Clearing Company Limited (HKSCC) has issued a circular to remind market participants of the launch of the Fast Interface for New Issuance (FINI) platform on 22 November 2023. The cutover and migration of … Read more

    APAC Monthly Private Wealth Legal Developments – October 2023

    Hong Kong HKMA issues circular to AIs on customer disclosure in relation to premium financing activities for insurance policies The HKMA has issued a circular to authorised institutions (AIs) to remind AIs and their subsidiaries, as premium financing facility providers, of the importance of proper disclosure in relation to interest rates when providing premium financing facilities to … Read more

    APAC Monthly Private Wealth Legal Developments – September 2023

    Welcome to Herbert Smith Freehills’ monthly private wealth industry updates in Asia. Every month we survey ten Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a table format.  The jurisdictions covered in the update are Hong Kong, Singapore, … Read more

    APAC Monthly Private Wealth Legal Developments – August 2023

    Welcome to Herbert Smith Freehills’ monthly private wealth industry updates in Asia. Every month we survey ten Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a table format.  The jurisdictions covered in the update are Hong Kong, Singapore, … Read more