Hong Kong Law
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Hong Kong and Mainland China to Expand Stock Connect
The scope of stocks eligible for Southbound trading will be expanded to include the stocks of international companies that are primary-listed in Hong Kong and are constituents of Hang Seng Composite Indices
HKEX Consults on Expanding the Paperless Listing Regime
The HKEX has published a Consultation Paper on proposals to expand the paperless listing regime. This follows the adoption of various paperless initiatives in 2021 to improve efficiency and lower costs.
Hong Kong’s foreign source income exemption regime for passive income effective 1 January 2023
Inland Revenue (Amendment) (Taxation on Specified Foreign-sourced Income) Ordinance 2022 gazetted on 23 December 2022 which enacts a Hong Kong foreign source income exemption regime for passive income
Hong Kong Legislative Council delays the Implementation Timetable of the Hong Kong Virtual Asset Service Provider Regime and the Hong Kong Securities and Futures Commission Statement on Virtual Assets
In December 2022 the HK Legco delays the Implementation Timetable of the Hong Kong VASP Regime under the HK AML/CTF Bill 2022 and the SFC issues a statement on VA Arrangements in Hong Kong.
SFC and CSRC Hold High-Level Enforcement Cooperation Meeting
The SFC and CSRC held its 13th high-level meeting on enforcement cooperation. It included a briefing on recent enforcement outcomes and cooperation, and a consensus to further their cooperation in future.
HKEx and SFC Disciplinary Actions of October 2022
The SFC actions included an order under s214 SFO for Sound Global’s chairman to purchase shareholders’ shares and the first conviction of an individual under s382 SFO for obstructing SFC search operations.
SFC Practice Note 24: Receivers, Liquidators and Commencement of Offer Periods
The SFC issued Practice Note 24 regarding receivers, liquidators and when to commence offer period(s) based upon its observations following the SFC Takeovers Bulletin No. 52 of March 2020.
SFC Circular on Virtual Asset Futures Exchange Traded Funds
The SFC issued its Circular on Virtual Asset Futures Exchange Traded Funds setting out the requirements under which it will consider authorising Virtual Asset Futures ETFs for public offering in Hong Kong.
HKEx Issues Revised Enforcement Sanctions Statement and New Cooperation Guidance
HKEx issued a revised enforcement sanctions statement and new cooperation guidance on the factors considered in determining sanctions for breaches of the HKEx Listing Rules.
HK Government issues Policy Statement on development of Virtual Assets in Hong Kong
Hong Kong Government issues Policy Statement on the Development of Virtual Assets in Hong Kong during HK Fintech Week 2022 expressing its willingness to calibrate the Local Legal and Regulatory Regime for VA.
HKEx, SFC and HKMA Disciplinary Actions in September 2022
The HKEx, SFC and HKMA Disciplinary Actions in September 2022 involved suspensions for breaching the SFC Code of Conduct, fines for contravening the AMLO, and imposing a director unsuitability statement
HKMA’s AML Regtech Lab Series under Fintech 2025
The HKMA published its Quarterly Bulletin issue 112 which looks at encouraging Regtech under its Fintech 2025 strategy and highlights the importance of technology in improving AML/CFT controls