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Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
In a recent speech given by Mr. Carlson Tong, Chairman of the Securities and Futures Commission, Mr. Tong pointed out that companies can improve corporate governance by attaching higher importance to the role of their board of directors as an internal gatekeeper. Mr. Tong said that this can be done more easily by having effective independent non-executive directors (INEDs) on the board.
Authorities in Hong Kong have taken further steps in their deliberate approach to enforcing the Competition Ordinance. A little over a year after it was appointed, the Competition Commission released a report in which it provides a brief introduction to the Ordinance as well as a roadmap leading to its full entry into force. The report also explains how the Commission will prioritise its enforcement activities, and identifies the guidelines, policies and compliance tools which it plans to release before the Ordinance is enforced. Currently only some of the institutional provisions of the Ordinance are effective, allowing the Commission and the Competition Tribunal to prepare for enforcement.
The Hong Kong Competition Ordinance was enacted by the Legislative Council in June 2012. You can download our briefing here .
A recent Hong Kong case reminded us of the importance of getting things right when executing documents in virtual closings, particularly in relation to deeds.
After years of debate, on 14 June 2012 and in its last days of office, the Legislative Council finally enacted Hong Kong’s first cross- sector competition law.
The Hong Kong Personal Data (Privacy) Ordinance Has Been Amended: Are Your Data Protection PracticesThe Personal Data (Privacy) Amendment Ordinance (the "Amendment Ordinance") was passed on 27 June 2012.
The Ministry of Commerce of the People's Republic of China (“MOFCOM”) passed the Provisional Measures on the Investigation and Handling of Concentrations between Business Operators which were Not Notified in accordance with the Law (the “Provisional Measures”) on 30 December 2011, and uploaded them on its website on 5 January 2012.
will it emerge (relatively) unscathed or is its very survival threatened?
Article by Timothy Loh and Sherry Xiao
The meltdown in global financial markets has triggered a consolidation of the financial services industry as securities firms, asset managers, insurers and banks alike spin-off assets and restructure their operations to shore up capital. These transactions are often global in nature, involving substantial Hong Kong operations. In this article, we review the basic Hong Kong legal and regulatory framework for these transactions and present some lessons learned.