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The definition of "Prospectus" in Section 2(1) of the <I>Companies Ordinance</I> (Cap 32) (the "CO") has been amended with effect from 3 December 2004 in accordance with the <I>Companies (Amendment) Ordinance 2004</I> to exclude the documentation for 12 types of offer set out in the new Seventeenth Schedule to the CO ("the New Schedule").

Welcome to Herbert Smith Freehills' monthly private wealth industry updates in Asia.

Recent amendments to the European prospectus rules may make the operation of certain employee stock plans in Europe cheaper and more straightforward.

In line with company law reforms in other major commercial jurisdictions and with a greater awareness of corporate governance and small investor’s rights, China has recently made substantial amendments to its Company Law as part of its continuous effort to develop its legal system. The amended PRC Company Law came into effect on 1 January 2006.

In the recent case of "Lau Siu Hung v. Krzystof Marszalek" the Court of First Instance held that an annulment of bankruptcy does not debar a creditor, who has not proved his provable debt, from asserting his claim after the annulment.

Asset managers and their legal advisers generally assume that investment funds (e.g. unit trusts) that are intended to be marketed to the investing retail public in Hong Kong must be authorized by the Securities and Futures Commission ("SFC") pursuant to one of the applicable codes issued by the SFC. Our research shows that this may not be so.

In a keynote speech at the Hong Kong Fintech Week on 1 November 2018, the SFC again asserted its cautious regulatory approach by announcing that it would step up its game in protecting investors of virtual assets.

Every month we survey ten Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a...

On 21 October 2024, the Hong Kong Securities and Futures Commission (the "SFC") announced a new fast track authorisation scheme for certain investment funds...

"Capital call" facilities (also known as "subscription line" facilities) are facilities made available to funds (often on a revolving credit basis and for general working capital purposes).

Pursuant to the Closer Economic Partnership Arrangement ("CEPA") signed between Mainland China and Hong Kong SAR on 29 June 2003, the Mainland have applied zero tariff on certain imported goods of Hong Kong origin commencing from 1 January 2004.

The Inland Revenue Department ("IRD") however, has traditionally viewed carried interest as an incentive reward which supplements management fees for the provision of management services.

Certainly, fund managers are re-evaluating their approach to ESG and almost all have at least started on their ESG journey.