The Securities and Futures Commission (SFC) has reprimanded and imposed record fines totalling HK$ 786.7 million on four investment banks for IPO due diligence failures in their sponsorship of applications to list on the Hong Kong Stock Exchange. UBS AG and UBS Securities Hong Kong Limited (UBS), Standard Chartered Securities (Hong Kong) Limited (Standard Chartered), […]
The Hong Kong Monetary Authority (HKMA) issued the first three virtual banking licences on 27 March 2019 allowing the licensees to operate as virtual banks in one of Hong Kong’s first steps in ushering in the new era of smart banking announced by HKMA chief executive, Norman Chan Tak-lam, in September 2017. Read More… Hong […]
Amendments to the Listing Rules of the Stock Exchange of Hong Kong Limited (HKEx) took effect on 1 March 2019 changing the documentary requirements for listing applicants and listed companies and making other minor housekeeping amendments. HKEx published its Consultation Conclusions on Proposed Changes to Documentary Requirements and other Minor Rule Amendments (Consultation Conclusions) on […]
Hong Kong’s Securities and Futures Commission (SFC) issued a Statement on Security Token Offerings on 28 March 2019, reminding market participants of the regulatory requirements applicable to security token offerings, generally known as STOs. The statement also reiterates the SFC’s earlier warnings to the public of the potential risks involved in investing in digital assets […]
There are no effective and accurate databases out there that allow you to find small- and middle-sized businesses for investment or acquisition. Furthermore, many such businesses are based in other countries, which make them extra challenging to find. If that is the case, you have come to the right place. We are experts in exactly […]
On 28 January 2019, the Securities and Futures Commission (SFC), Hong Kong Exchanges and Clearing Limited (HKEX) and the Federation of Share Registrars Limited (FSR) released a joint consultation paper on a new mechanism for implementing an uncertificated securities market regime in Hong Kong (Consultation Paper). Read More… Hong Kong Law Newsletter | Chartlons
Starting from 11 April 2019, the Securities and Futures Commission (SFC) will require licensing applications to be made with new licensing forms, and annual returns and notifications to be submitted electronically through the SFC Online Portal. The SFC’s Licensing Handbook has been updated accordingly. Read More… Hong Kong Law Newsletter | Charltons
The Hong Kong Stock Exchange (HKEx) was the world’s top IPO fundraising market in 2018, for the sixth time in the last ten years. According to market statistics published by HKEx for the period from 1 January 2018 to 14 December 2018, Hong Kong IPOs raised HK$277,848.5 million (US$35,580 million), the highest amount since 2010. […]
Introduction On 12 December 2018, Hong Kong’s securities regulator, the Securities and Futures Commission (SFC) issued its consultation conclusions[1] on amendments to the Hong Kong code of conduct for Persons Licensed by or Registered with the Securities and Futures Commission (Hong Kong Code of Conduct) to: introduce new requirements on over-the-counter (OTC) derivatives in relation […]
Introduction On 6 December 2018, Hong Kong’s Securities and Futures Commission (SFC) released its consultation conclusions[1] to its consultation[2] on proposed amendments to the Hong Kong Code on Unit Trusts and Mutual Funds (Hong Kong Code on Unit Trusts). The amendments are aimed at updating the regulatory regime for SFC-authorised funds and addressing the risks […]
The employment team looks at some of the key issues and practical tips when considering demoting an employee in Hong Kong. A demotion normally involves a reduction in rank or status, or a decrease in job responsibilities and/or salary. An employer may wish to demote an employee for a variety of reasons including poor performance, […]
Julia Charlton on behalf of the Financial Services Business Council (FSBC) invites you to join a breakfast briefing on “Accelerating Hong Kong’s Green Finance Agenda”. Hong Kong Law Newsletter | Chartlons