Hong Kong

Memorandum of Understanding Entered into between Hong Kong International Arbitration Centre and the Russian Arbitration Association

Memorandum of Understanding Entered into between Hong Kong International Arbitration Centre and the Russian Arbitration Association On 18 May 2016, the Hong Kong Arbitration Centre (HKIAC) entered into a Memorandum of Understanding with the Russian Arbitration Association. The agreement was signed at the 2016 St Petersburg International Legal Forum. The Memorandum of Understanding signifies the […]

Julia CharltonPartner, Charltons

HK SFC rules Alibaba breached Takeovers Code during CITIC21CN acquisition

Hong Kong’s Takeovers Panel Rules that Alibaba Breached Takeovers Code due to “Special Deal” The Securities and Futures Commission’s (SFC) Takeovers and Mergers Panel (Panel) has published its decision on whether Alibaba Group Holding Limited (Alibaba) breached the Code on Takeovers and Mergers and Share Buy-backs (the Takeovers Code) when it acquired healthcare company, CITIC […]

Julia CharltonPartner, Charltons

China’s NDRC to Simplify Outbound Investment Rules

China’s NDRC to Simplify Outbound Investment Rules China’s National Development and Reform Commission (the NDRC), the principal regulator of Chinese outbound investments, has published proposed amendments to its outbound investment regulations aimed at simplifying and speeding up the process. The move comes as Chinese companies continue to invest heavily overseas. In the first quarter of […]

Julia CharltonPartner, Charltons

HK Stock Exchange Publishes Reasons for Rejection and Return of Listing Applications

HKEx Publishes Listing Decisions on Reasons for Rejection and Return of New Listing Applications On 13 April 2016, the Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of the Hong Kong Exchanges and Clearing Limited (HKEx), published two new Listing Decisions. Listing Decision HKEX-LD100-2016 sets out the Exchange’s reasons for rejecting seven of […]

Julia CharltonPartner, Charltons

Moody’s Fined HK$11 million over Red Flags Report on Chinese Companies

SFAT Reprimands and Fines Moody’s HK$11 million over Red Flags Report on Chinese Companies The Securities and Futures Appeals Tribunal (SFAT or the Tribunal) has upheld a disciplinary action brought by the Securities and Futures Commission (SFC) against Moody’s Investors Service Hong Kong Limited (Moody’s). However, not all the SFC’s claims were upheld and the […]

Julia CharltonPartner, Charltons

HKEx issue Guidance for Issuers Subject to Rumour or Market Commentaries

Hong Kong Stock Exchange Publishes Guidance Letter for Issuers Subject to Rumours or Market Commentaries Background The Stock Exchange of Hong Kong Limited (the Exchange) has published a new guidance letter HKEx-GL87-16 for listed issuers subject to rumours or market commentaries making allegations of fraud, material accounting or corporate governance irregularities (together allegations) that may […]

Julia CharltonPartner, Charltons

SFC Begins Market Misconduct action for Late Disclosure of Inside Info

SFC Commences Market Misconduct Proceedings for Alleged Breaches of Inside Information Disclosure Requirements The SFC has commenced proceedings in the Market Misconduct Tribunal against two companies for alleged breaches of the inside information disclosure requirements under the Securities and Futures Ordinance (SFO). Senior executives of those companies were also charged with reckless or negligent conduct […]

Julia CharltonPartner, Charltons

New Open-Ended Fund Company Structure for Hong Kong Funds to be Introduced Under the Securities and Futures (Amendment) Bill 2016

New Open-Ended Fund Company Structure for Hong Kong Funds to be Introduced Under the Securities and Futures (Amendment) Bill 2016 Introduction                                                              In March 2014, the Financial Services and Treasury Bureau (FSTB) conducted a public consultation on allowing open-ended fund companies (OFCs) to be established under the Securities and Futures Ordinance (SFO). Following the publication of […]

Julia CharltonPartner, Charltons

Amendments to Hong Kong’s Professional Investor Regime Take Effect on 25 March 2016

Amendments to the Hong Kong Professional Investor Regime Take Effect on 25 March 2016 Amendments to intermediaries’ obligations in relation to certain categories of professional investors under the Code of Conduct for Persons Licensed by or Registered with the SFC (the Code) take effect on 25 March 2016. The amendments were first proposed in the […]

Julia CharltonPartner, Charltons