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The terms and conditions will be imposed by way of licensing conditions

Hong Kong's Securities and Futures Commission has introduced stringent new requirements for publicly offered funds investing in virtual assets, establishing a 10% net asset value threshold, prohibiting fund-level leverage, and mandating cold-wallet storage with onshore key custody. Fund managers must now navigate tightened custodian arrangements and closely monitor their virtual asset holdings to ensure compliance with these evolving regulatory controls.

The High Court examined a case where a Hong Kong securities brokerage company brought conspiracy claims against its own client, alleging an undisclosed discretionary trading arrangement between the client and one of the firm's employees.=

In recent years, the Hong Kong Securities and Futures Commission (SFC) has increasingly focused on private equity funds' obligation to be licensed under the Securities and Futures Ordinance (SFO).

New guidelines propose to set minimum standards applicable to all persons licensed to deal in futures contracts.

On 21 November 2019, the Securities and Futures Commission (SFC) published a circular to licensed corporations regarding dubious private fund and discretionary account arrangements and transactions.

In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates and financial institutions.

On 23 July 2013, The Stock Exchange of Hong Kong Limited published amendments to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Hong Kong's Securities and Futures Commission (SFC) has issued a consultation paper proposing draft new guidelines on market soundings.

On March 24, 2021, the U.S. Securities and Exchange Commission ("SEC") issued rule amendments to implement submission and disclosure requirements mandated by the Holding Foreign Companies Accountable

On 10 June 2022, the Securities and Futures Commission (the "SFC") launched a two-month consultation ("Consultation") on proposed enforcement-related amendments to the...

Corporation which its sole business is to hold investments and is wholly owned by any of the persons above mentioned.

On 19 June 2020, the SFC commenced proceedings in the Market Misconduct Tribunal against Tianhe Chemicals Group Limited and its executive director, Wei Xuan, under section 277 of the Securities and Futures Ordinance ...

HKEx published its long-awaited "Concept Paper – Weighted Voting Rights" to seek views on whether weighted voting right structures should be allowed.

As explained in our previous Legal Update "New Companies Ordinance Expected to Take Effect in 2014", the new Companies Ordinance (CO) was gazetted on 10 August 2012 and is expected to take effect in 2014.

Hong Kong is developing a comprehensive licensing framework for virtual asset activities, creating distinct regimes for virtual asset dealing services...

In light of the market volatility caused by the global outbreak of COVID-19, the Securities and Futures Commission (SFC) published two circulars on 27 March 2020 reminding fund industry...