ARTICLE · 06 NOVEMBER 2023

APAC Monthly Private Wealth Legal Developments – October 2023

Herbert Smith Freehills Kramer LLP

Explore more from Herbert Smith Freehills Kramer LLP

HKMA issues circular to AIs on customer disclosure in relation to premium financing activities for insurance policies

GlobalTechnology

Richard Norridge

Hong Kong

HKMA issues circular to AIs on customer disclosure in relation to premium financing activities for insurance policies

The HKMA has issued a circular to authorised institutions (AIs) to remind AIs and their subsidiaries, as premium financing facility providers, of the importance of proper disclosure in relation to interest rates when providing premium financing facilities to customers. It notes that some AIs have relied on clauses embedded in the terms and conditions in loan agreements to change the basis of interest rate under premium financing facilities.

Following the receipt of customer applications for premium financing facilities, AIs should bring the customers' attention to all building blocks for determining the applicable interest rate under the facilities, including, for example, all benchmark interest rates and the AIs' cost of fund, where applicable. If an AI has the discretion to adopt its cost of fund to determine the applicable

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

Patrolling The Perimeter: Final FCA Perimeter Guidance And Amendments To The UK Cryptoasset Regulations

United KingdomTechnology

Freshfields Bruckhaus Deringer

Cyber Monthly Wrap-up (UK, EMEA And The US) – October 2026

United KingdomTechnology

Herbert Smith Freehills Kramer LLP

AI In EDiscovery: Knowing When And How To Use It

United KingdomTechnology

Deploying Chatbots, Don’t Overlook The Legal Risks

United KingdomTechnology

Field Seymour Parkes

AI & Privilege: What You Need To Know

United KingdomTechnology

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

Comparative Guide

Artificial Intelligence

Comparative Guide

Fintech

Comparative Guide

Blockchain & Crypto Assets

See more popular content from

Technology

Be Nice To Claude: Anthropic's Acceptable Use Policy Updates

Anthropic's updated Acceptable Use Policy introduces significant changes for organisations building on Claude, extending far beyond the headline-grabbing prohibition on abusive behaviour towards the AI model. The policy now addresses deceptive campaigns, election interference, weapons development, surveillance systems, and requires human oversight for high-impact decisions affecting individuals' rights and wellbeing.

United KingdomTechnology

The Latest Scottish Tech Industry Survey Results At A Glance

Some key takeaways from the Scottish Tech Industry Survey 2025.

United KingdomTechnology

EU Digital Omnibus On AI Enters Into Force

The EU has introduced its first major amendment to the AI Act through the AI Omnibus regulation, which delays certain compliance deadlines while maintaining others. Organizations must understand which obligations remain on schedule, including transparency requirements and general-purpose AI provisions, and which have been deferred, such as high-risk AI system requirements.

European UnionTechnology

AI In Advertising: Do I Need To Label My AI-generated Ad?

Advertisers using AI-generated content face complex transparency requirements that vary significantly between the UK and EU. While UK law focuses on preventing consumer deception without explicit AI labelling mandates, the EU AI Act introduces strict disclosure obligations for 'deep fakes' that could catch even UK-based campaigns if they reach EU audiences.

European UnionTechnology

Browne Jacobson LLP

The UK Cyber Security And Resilience Bill: What You Need To Know

The UK Government has introduced the Cyber Security and Resilience Bill to address critical gaps in existing cyber security regulations, expanding coverage to data centres, managed service providers, and critical suppliers while granting regulators enhanced enforcement powers. With tightened incident reporting deadlines, turnover-based penalties up to £17 million, and mandatory supply chain resilience measures, organisations across essential services sectors must assess their readiness for compliance

United KingdomTechnology

Browne Jacobson LLP

Celsius vs Tether: Court Ruling Marks Key Moment In Cross-Border Crypto Litigation

A recent ruling from the U.S. Bankruptcy Court has paved the way for Celsius Network to continue its $4 billion lawsuit against stablecoin issuer Tether.

United KingdomTechnology

Spencer West LLP

The EU AI Act’s Transparency Rules Are Now Live: What Organisations Need To Do

As of 2 August 2026, the EU AI Act’s transparency obligations under Article 50 are now in effect, with one limited exception for providers of AI systems generating synthetic audio, image, video or text content that...

United KingdomTechnology

Kingsley Napley LLP

The EU’s New AI Transparency Rules: What You Need To Know

The European Commission has published its Code of Practice on marking and labelling AI-generated content, helping businesses to meet new transparency duties under the EU AI Act.

European UnionTechnology

DMH Stallard LLP

Cyber Security And Resilience Bill: What's The Latest And What Should Businesses Do Now?

The National Cyber Security Centre emphasizes five critical areas requiring director-level attention: risk management, strategy, people, incident planning and response, and assurance oversight. Organizations must establish robust governance frameworks to address evolving cyber threats and ensure comprehensive resilience across their operations.

United KingdomTechnology

‘One Engine, Configured A Thousand Different Ways’ – Is Claude For Legal The Next Big Shift In Legal Tech?

On 12 May, Anthropic launched Claude for Legal, marking a shift in the AI company’s positioning, from primarily powering legal AI products such as Harvey and Legora, towards potentially becoming a legal platform in its own right.

United KingdomTechnology