The Finance Committee of the Legislative Council has approved the anti-epidemic relief fund of HK$137.5 billion which includes about HK$81 billion for an Employment Support Scheme (“ESS”). The purpose of the ESS is to provide financial assistance in exchange for employers undertaking to retain their employees who could otherwise be laid-off or made redundant. Our […]
Friday, 15 May 2020 12:30pm – 2:00pm About the Webinar In this seminar, Mr. Michael Szeto will be discussing various practical issues faced by employers and employees arising out of COVID-19, including the following: – Do employers have any duties to ensure safety and health of employees at work? If so, what are they? If an […]
The Securities and Futures Commission (the SFC) issued a press release[1] on 21 April 2020 outlining the measures it has implemented in response to the effect of the COVID-19 outbreak on Hong Kong’s capital markets. Its main areas of focus have been ensuring that Hong Kong’s financial markets continue to function efficiently, assuring investor protection, […]
Background The COVID-19 situation has caused increasing financial and operational difficulties for businesses. Various employers have either asked employees to take unpaid leave and/or annual leave during this period. This practice note examines the legal requirements for asking employees to take unpaid leave and/or annual leave. Can an employer unilaterally require employees to take unpaid […]
For companies and individuals looking to move into new jurisdictions for business opportunities, setting up a bank account is a crucial part of the process. But this is never as […]
Read moreThe Securities and Futures Commission (the SFC) published a Circular to Licensed Corporations and Report on Leveraged Foreign Exchange Trading Activities Carried Out by Licensed Corporations (the Leveraged Foreign Exchange Trading Report) on 9 April 2020. The Leveraged Foreign Exchange Trading Report sets out the findings of a survey of leveraged foreign exchange trading (LFET) […]
In an effort to alleviate the financial difficulties as a result of the COVID-19 pandemic, the Hong Kong Government has announced proposed relief measures which include a HK$ 80 billion Employment Support Scheme (“ESS”). Key features of the ESS: Proposal: The Government has proposed to provide wage subsidies to eligible employers of the purposes of […]
Despite the COVID-19 pandemic impacting global IPO markets, Hong Kong and Mainland China’s IPO markets performed well in Q1 2020, with the Shanghai Stock Exchange (SSE) claiming the top spot in terms of IPO funds raised (US$ 9.9 billion), mainly due to the popularity of the STAR Market, and the Hong Kong Stock Exchange taking […]
The Securities and Futures Commission(SFC) issued a Circular to Management Companies and Market Makers of SFC-Authorised Exchange Traded Funds [1] (the SFC ETF Circular) on 17 April 2020 reminding management companies and market makers[2] of SFC-authorised exchange traded funds (ETFs) of their risk management obligations amid the COVID-19 outbreak. This followed the temporary suspension of […]
Local enterprises and small and medium enterprises (SMEs) have been severely affected by the COVID-19 outbreak. The Government of Hong Kong has put in place a series of supporting policies to assist those local businesses and SMEs which meet the qualifying criteria and are successful with their application. We have compiled a list of these […]
Dear Clients and Friends, This special newsletter aims to regularly update practitioners on important and noteworthy cases in the areas of corporate disputes and insolvency in Hong Kong, the UK and other common law countries. In this issue, we have highlighted: · 10 Corporate Insolvency Cases · 3 Cross-border Insolvency Cases · 2 Restructuring Cases […]
As Hong Kong heads into the third month of the COVID-19 outbreak, the economic impact of the outbreak is increasingly impacting Hong Kong businesses. The Hong Kong government has been facing calls for financial relief to ease the financial burden of a wide spectrum of industries ranging from retail to education. On 8 April 2020, […]
