Earlier this year, the Hong Kong government introduced the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Bill 2021 which drew much attention from the global private equity market. On 7 May 2021, the...more
The Hong Kong Government released the conclusions of its public consultation on a proposed licensing regime for virtual asset services providers ("VASPs") on 21 May 2021 (the "Consultation Conclusions"). Having received broad...more
The Hong Kong Financial Secretary announced in his 2019-20 Budget speech that the government was seeking to establish a limited partnership regime for funds (LPF), in order to facilitate industry development while maintaining...more
1/18/2020
/ AML/CFT ,
Anti-Money Laundering ,
Asia ,
Cayman Islands ,
Consultation Papers ,
Counter-Terrorist ,
Financial Services Industry ,
Fund Managers ,
General Partner ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investment Management ,
Investor Protection ,
Limited Partnerships ,
Private Equity Funds ,
Proposed Legislation ,
Recordkeeping Requirements ,
Registration Requirement ,
Safe Harbors ,
Singapore ,
Stamp Duty Land Tax
After a year of consultation with the mutual funds industry regarding changes that aim to modernise the regulatory regime for SFC-authorised funds, the Hong Kong Securities and Futures Commission (SFC) revised the Code on...more
4/16/2019
/ Amended Rules ,
Derivatives ,
Eligibility ,
Financial Derivative Instruments (FDIs) ,
Financial Services Industry ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investment Funds ,
Mutual Funds ,
Operational Requirements ,
Prospectus ,
Securities Financing Transactions (SFTs) ,
Transitional Arrangements ,
Unit Trusts
Hong Kong is increasingly a popular jurisdiction for fund distribution, given its nexus with the People’s Republic of China. Historically, investment funds usually have been established in the form of offshore mutual funds,...more
10/22/2018
/ Asset Management ,
Business Formation ,
Corporate Taxes ,
Financial Services Industry ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Incorporation ,
Offering Documents ,
Open-Ended Fund Companies (OFCs) ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Qualified Investment Funds (QIFs) ,
Registration Requirement
Following an initial “soft” consultation with industry participants and relevant stakeholders, the Securities and Futures Commission (SFC) launched a three-month consultation on proposed amendments to the Code on Unit Trusts...more
4/5/2018
/ Asset Diversification ,
Capital Requirements ,
Closed-End Funds ,
Custodians ,
Derivatives ,
Disclosure Requirements ,
ETFs ,
Financial Reporting ,
Financial Services Industry ,
FSB ,
Hedge Funds ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Index Funds ,
Internal Controls ,
Investment Funds ,
Investment Portfolios ,
Investor Protection ,
IOSCO ,
Loans ,
Management Companies ,
Money Market Funds ,
Multinationals ,
NAV ,
Over The Counter Derivatives (OTC) ,
Pooled Investment Vehicles ,
Public Consultations ,
Public Funds ,
Retirement Funds ,
Risk Management ,
Securities ,
Securities Financing Transactions (SFTs) ,
SEHK ,
SFC ,
Trustees ,
UCITS
Since January 2017, more than $2 billion has been raised through the rapidly growing market for so-called “token sales” or “initial coin offerings” (ICOs). The U.S. Securities and Exchange Commission (SEC) announced on July...more
10/7/2017
/ BaFin ,
Banking Restrictions ,
Banks ,
China ,
Corporate Counsel ,
Corporate Issuers ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Germany ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Initial Coin Offering (ICOs) ,
Investors ,
Monetary Authority of Singapore ,
People's Bank of China ,
Securities and Exchange Commission (SEC) ,
Singapore ,
Token Sales ,
UK ,
Unregistered Securities ,
Young Lawyers
The use of online platforms for distribution of financial products has become increasingly popular in Hong Kong. In May 2017, the Hong Kong Securities and Futures Commission (SFC) issued a Consultation Paper inviting comments...more
6/26/2017
/ Code of Conduct ,
Comment Period ,
Complex Financial Products ,
Corporate Governance ,
Financial Services Industry ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investor Protection ,
Online Distribution ,
Online Platforms ,
Proposed Guidance ,
Public Consultations ,
Retail Investors ,
Risk Management ,
SEHK