The Legal 500

’A leader in the field of regulatory reform’, Clifford Chance is also ’among the best for its combined contentious and non-contentious expertise’. The firm continues to advise clients such as Sun Hung Kai Properties, CITIC Pacific and PCCW on regulatory and criminal investigations, while on the non-contentious side, it recently advised Morgan Stanley and Pictet & Cie (Europe) on all aspects related to applying to the HKMA for banking licences. Martin Rogers and Mark Shipman co-head the Asia regulatory team, which includes three recently promoted Hong Kong partners.

The team at Herbert Smith Freehills has ’in-depth knowledge of the regulatory landscape, and is up to date on the trends of the industry, especially those relating to enforcement and surveillance aspects of the SFC’. The department is better known for its ’strong’ contentious expertise, but it also handles non-contentious matters, with Tim Mak ’always considering issues from the client’s angle’. Mak also handles contentious instructions, as do Gavin Lewis, Mark Johnson and Kyle Wombolt. Ashley Alder recently left for a position at the SFC.

For some, Linklaters is ’by far the best overall regulatory team in Hong Kong’. On the non-contentious side, Stephen Fletcher and the ’very dependable’ Umesh Kumar continue to advise global investment and commercial banks on consultations concerning Hong Kong regulatory reforms. On the contentious side, the ’valued’ Melvin Sng recently represented a hedge fund in a complex, cross-border investigation relating to short-selling trades. Fletcher leads the team, and is recommended for his extensive experience and practical advice.

Despite the recent departure of Angus Ross, clients remain ’very happy’ with the service at Allen & Overy, singling out advice that is ’not just legalistic, but relevant to its client’s business’. Practice head Alan Ewins is ’a smart, well-connected lawyer’ who specialises in non-contentious matters. For contentious work, Simon Clarke is ’excellent’, and Fai Hung Cheung is also highly regarded. Senior associate Abdulali Jiwaji recently left to become a partner at Simmons & Simmons LLP.

Noted for their ’fast turnaround times and expert knowledge’, the lawyers at Baker & McKenzie ’really get to the root of the problem’. In 2012, the team represented Mega Capital (Asia) in a SFC disciplinary action relating to their role as sponsors in a Hong Kong Stock Exchange listing. Jason Ng and Milton Cheng are recommended, as are the ’tenacious’ Karen Man, and the ’client-focused’ Martin Tam.

Freshfields Bruckhaus Deringer provides ’top-notch knowledge and appropriate advice’ on contentious and non-contentious financial services matters. In 2011, the firm advised the underwriters on regulatory issues relating to the $1.2bn IPO of HKT Trust, which involved the first successful listing of a single investment trust on the Hong Kong Stock Exchange. Practice head Royce Miller applies ’a very practical approach to technical areas of law’. Richard Chalk recently transferred to the firm’s London office.

Hogan Lovells’ financial services regulatory practice handles both contentious and non-contentious instructions. On the contentious side, the ’knowledgeable and client-focused’ Mark Lin represented Dah Sing Bank’s private banking arm in an action relating to allegations of mis-selling of derivative products. On the non-contentious side, Tim Fletcher handles compliance, SFC licence application, product structuring and regulatory elements of corporate transactions.

Reed Smith Richards Butler handles contentious regulatory instructions, and has niche expertise in acting for traders. The workload includes a number of high-profile insider-dealing and securities-related cases, and the team regularly defends the Hong Kong Stock Exchange in judicial reviews. David Morrison and William Barber are the key contacts.

Deacons not only deals with regulatory issues affecting banks, but also wider concerns such as listing rules, the Takeover Code, insurance matters, and fund authorisation. Practice head Joseph Kwan is well regarded for bribery and corruption matters, insider-dealing, and market misconduct issues, and Jane McBride handles industry compliance and licensing. The firm recently advised a European financial institution on the regulatory aspects of its financial services business in China, as well as assisting the client with anti-corruption procedures.

Yuet Ming Tham joined Sidley Austin from DLA Piper; she focuses on regulatory compliance and government investigations. The four-partner team also includes Alan Linning, who is a former regulator with particular knowledge of the SFC’s statutory powers under the Securities and Futures Ordinance.

Simmons & Simmons LLP’s non-contentious practice advises on compliance obligation matters, and also helps shape policy through close relationships with industry groups such as the International Swaps and Derivatives Association and the Hong Kong Association of Banks. On the contentious side, the majority of the work involves SFC and HKMA investigations. Paul Li and Rolfe Hayden are recommended, as are Abdulali Jiwaji, who recently joined from Allen & Overy, and Tom Fyfe, a former Clyde & Co (and, prior to the merger, Barlow Lyde & Gilbert) partner.

In 2011, DLA Piper formed a China Securities Litigation Rapid Response Team, to aid clients affected by the upturn in securities litigation and government investigations. The ’responsive and knowledgeable’ practice recently lost Yuet Ming Tham to Sidley Austin; nevertheless, team head Christopher Clarke has ’an excellent nose for an investigation’, and specialises in regulatory disputes. Esther Leung is also recommended, for her non-contentious experience.

’A proactive provider of valuable advice’, Dechert houses ’very creative, solution-oriented lawyers’. David Chu offers contentious experience, and non-contentious lawyer Angelyn Lim has ’deep understanding of the Hong Kong regulatory environment, and has excellent client-engagement skills’. The ’very knowledgeable’ Karl Paulson Egbert specialises in non-contentious US regulatory matters.

’The experience and market insight is obvious’ at King & Wood Mallesons, where Jill Wong is recommended for her strengths in both contentious and non-contentious matters. She is ’knowledgeable on the banking and finance industry and very experienced in dealing with SFC’. Specialising in non-contentious matters, Richard Mazzochi and Minny Siu are ’pragmatic and technically strong’, and show ’a real interest in understanding their client’s business and priorities’.

At Mayer Brown JSM, Sara Or advises on compliance and licensing issues surrounding securities, banking, commodities and insurance regulations. Nicholas Hunsworth is the contact for contentious matters. Clients have included a number of major international financial institutions.

Stephenson Harwood has ’very good knowledge of industry and commercial practice’. On the non-contentious side, Mark Reed has ’very deep regulatory knowledge’, and recently advised a UK-based investment bank on the regulatory and licensing aspects of establishing a Hong Kong office. Matthew Wong recently joined from Bird & Bird. Malcolm Kemp is the key contact for contentious issues.

The ’impressive’ Timothy Loh, Solicitors is commended for its ’strong knowledge of the Hong Kong regulatory framework’. Led by the ’excellent’ Timothy Loh, the team acts for financial institutions in both contentious and non-contentious mandates, and handles issues relating to the SFC and the HKMA.

Ashurst Hong Kong recently recruited contentious regulatory partner Gareth Hughes from Simmons & Simmons LLP, and Patrick Phua, formerly of Mallesons Stephen Jaques (now King & Wood Mallesons). Phua and Chris Whiteley, who transferred from the firm’s London office, handle regulatory aspects of derivatives transactions.

At Latham & Watkins LLP, Simon Berry is highly regarded for his broad non-contentious practice. The firm is also well known for its anti-corruption expertise, where disputes partner Simon Powell is recommended.

Norton Rose Hong Kong’s Charlotte Robins advises on non-contentious matters, and has ’a very thorough knowledge of Hong Kong regulations’. Disputes lawyers David Lee and Wynne Mok were promoted to partner in 2012.