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SFC Guidance on Requirements for Licensing under the Law: Reliable or Not
Market participants seek guidance from the SFC with a view to ensuring compliance with applicable laws. Recently, the SFC has begun to take a more active role in providing such guidance, in many cases discouraging licensed persons from holding a license or indeed, indicating that the SFC will not grant a license based on its own interpretation of the law. As the courts alone can conclusively interpret laws, the SFC's approach is unsatisfactory, placing market participants at risk for breach of applicable laws. In this article, we discuss how market participants should proceed in the face of this dilemma.
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New Tax Developments Affecting Management Fees: What Hong Kong Fund Managers Should Know
The Hong Kong tax authorities have issued new guidance which may affect the arrangements used by fund management groups to minimize tax on management fees and performance fees. In this article, we examine the current taxation position and set out defensive steps which fund management groups may take to minimize the risk of an increased tax burden.
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New Short Position Reporting: Analysis of Hong Kong Proposals
The Hong Kong Securities and Futures Commission has unveiled new proposals to increase transparency in short positions. Other jurisdictions have introduced similar proposals but it is questionable whether Hong Kong needs to follow suit. In this article, we summarize the proposals and provide our insights on them.
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New Proposals to Regulate Mis-Selling of Investment Funds & Structured Products in Hong Kong: Right or Wrong?
The recent global financial crisis has resulted in an upswing in regulatory action throughout world markets. In Hong Kong, the Securities and Futures Commission (SFC) has proposed a slew of new requirements, some of which have already been implemented retroactively and without industry consultation. In this article we examine these ongoing developments in SFC policy and their effectiveness in reaching a fair balance between investor protection and costs to the investor and the financial industry.
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How to Start a Hedge Fund in Hong Kong: Private Client Seminar
Recent events have triggered a resurgence in interest in the establishment of hedge funds, both from those eying opportunities in the current market and from those looking to break away from the uncertainties of working for larger institutions. This seminar provides an overview of the key legal issues that are likely to arise when establishing and managing a hedge fund in Hong Kong, covering the choice of fund structure, business licensing requirements and capital raising.
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How to Start a Hedge Fund in Hong Kong: A Legal Primer
Challenging the SFC: What Every Compliance Officer Needs to Know
Financial Services Acquisitions: A Primer to Buying Securities Firms, Asset Managers, Insurers and Banks
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