Corruption in Hong Kong: Lessons from a Recent Case Dominic Wai, Partner, ONC Lawyers & Dr. Angus Young, SeniorLecturer, DepartmentofAccountancy & Law, HongKongBaptistUniversity, Distinguished Research Fellow, German-Sino Institute of Legal Studies, Nanjing University; Adjunct Fellow, Western Sydney University Law School. Corruption became a serious political issue after the riots of 1967. Discontent and […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Dominic Wai of ONC Lawyers. Dominic has joined IR as our exclusive White Collar Crime Member in Hong Kong Established in 1992, ONC Lawyers has grown to become one of the largest domestic law firms with more than 120 members of legally-qualified […]
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SFC Proposes Rules and Code for Open-ended Fund Companies Introduction On 28 June 2017, the Securities and Futures Commission (SFC) published its consultation proposals on the legal and regulatory requirements for the Open-ended Fund Company (OFC) structure. The consultation follows the approval of the Securities and Futures (Amendment) Bill 2016 (Amendment Ordinance), which introduced the […]
International expansion has many challenges ranging from accessing new markets, absorbing new regulations and sourcing new employees. Before all this can happen though, the way a company is structured needs […]
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Exchange’s Review of Disclosure in Issuers’ Annual Reports to Monitor Rule Compliance Report 2016 In January 2017, the Hong Kong Stock Exchange (Exchange) released its “Review of Disclosure in Issuers’ Annual Reports to Monitor Rule Compliance” (Review) covering annual reports with financial years ending between January and December 2015. The Exchange reviews issuers’ annual reports […]
U.K’s Department for International Development launches new ‘Business Innovation Window’ The U.K’s Department for International Development (DFID) has announced details of a new initiative to support Myanmar companies and strengthen value chains and promote inclusive economic growth. The ‘Business Innovation Window’, which will launch before the end of August 2017, will provide grants to companies […]
TVB ruling on whitewash waiver by Takeovers Panel Introduction and Background On 10 May 2017, the Takeovers and Mergers Panel (Panel) ruled that a waiver of the general offer obligation (Whitewash Waiver) should be granted, subject to conditions, in relation to a share buy-back offer (Offer), which Television Broadcasts Limited (TVB) announced in January 2017. […]
IFC assisting YSX listed-firms implement enhanced information disclosure The International Finance Corporation (IFC) is working in cooperation with the Myanmar government to educate public companies intending to list on the Yangon Stock Exchange (YSX) on transparency and disclosure standards in company reporting. According to the IFC, the standard and quality of information disclosure is fundamental […]
The Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Bill 2017 Introduction In view of Hong Kong’s international obligations under the Financial Action Task Force (FATF) recommendations, the Financial Services and the Treasury Bureau (FSTB) of Hong Kong proposed amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) (Cap. 615). Following the consultation proposals […]
BVI Beneficial Ownership Secure Search System Act 2017 The BVI’s Beneficial Ownership Secure Search System Act 2017 (BOSS System Act) was gazetted on 12 June 2017, and came into force on 30 June 2017, to establish a secure search system facilitating the effective and efficient storage and retrieval of beneficial owner information for all corporate […]
Competence Requirements for Asset Management Licence Applicants Clarified by SFC On 23 June 2017, Hong Kong’s Securities and Futures Commission (SFC) issued a circular which provides guidance for existing licensed corporations and individuals that seek to be licensed for Type 9 regulated activity (asset management) under the Securities and Futures Ordinance. Licensed corporations and individuals […]
