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Banking and Finance
Legal Update – Anti-Money Laundering and Counter-Terrorist Financing Review Tribunal and Competence Assessment for Money Service Operators
The Anti-Money Laundering and Counter-Terrorist Financing Ordinance, Chapter 615 of the laws of Hong Kong, (“AMLO”) (formerly known as Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance) came into effect on April 1 2012. It aims to enhance the anti-money laundering (“AML”) and counter-financing of…Read More
Key Points in the FSTB Consultation Paper to the new licensing regime for VASPs
The Financial Service and Treasury Bureau released a consultation paper on 3 November 2020, proposing amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615, Laws of Hong Kong)(“AMLO”) to introduce a licensing regime for virtual asset services providers (“VASP(s)”). River Stone, Pádraig Walsh…Read More
Key points in the SFC Consultation Paper to amend the SFC AML Codes
The Hong Kong Securities and Futures Commission (“SFC”) released a consultation paper on 18 September 2020, proposing amendments to (1) the Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations) and (2) the Prevention of Money Laundering and Terrorist Financing Guideline issued by…Read More
Jan Willem Möller attends Cross-border Debt Restructuring Forum 2020
Partner Jan Willem Möller attended Asian Legal Business’ Cross-border Debt Restructuring Forum 2020, which was held virtually on 3 September 2020. The forum took place over a day, and featured panels on topics such as: Safeguarding Creditor’s Debt Enforcement Rights to Ensure Successful Asset Recovery…Read More
Tanner De Witt boosts banking practice with the promotion of Jan Willem Möller to Partner
Tanner De Witt announces with great pleasure the appointment of banking and finance lawyer Jan Willem Möller as Partner of the firm effective today. Jan Willem joined Tanner De Witt in early 2016 and has steadily grown his practice since. His experience ranges from distressed…Read More
Key project team members for a Security Token Offering
Security token offerings (“STO”) are a next-generation financing model that combine the benefits of blockchain technology with traditional fund raising. As with any fundraising exercise, conducting an STO can be stressful. The stress is increased as the novelty of STOs makes the process more opaque. …Read More
Q&A with Ivy Chan – Registered Foreign Lawyer
Ivy Chan is a Registered Foreign Lawyer and English qualified Solicitor who assists the Corporate and Commercial practice at Tanner De Witt. She specialises in banking and finance with a strong focus on secured lending involving both onshore and offshore structures. Prior to joining Tanner De Witt, Ivy…Read More
Legal update: What you need to know about convertible loan notes
This article was originally published on Zegal.com as “Everything You Need To Know About Convertible Loan Notes”. My present favourite startup financing document is the convertible loan note. Ask me next week, and it will be something else. The convertible loan note has enough good…Read More
Pádraig Walsh to speak at HKU on Blockchain and Financial Institutions
We are delighted to announce that Corporate Commercial Partner Pádraig Walsh will be speaking at The University of Hong Kong’s Asian Institute of International Financial Law (AIIFL) on Friday 21 September. The topic of the talk will be Blockchain and Financial Institutions – Pandora’s Box or…Read More
Legal update: Magistrate acquitted a broker of illegal short selling on re-trial
Case background Mr Wong Hung who was licensed to carry on Type 1 regulated activity (dealing in securities) under the Securities and Futures Ordinance (Cap. 571) (“SFO”) was charged by way of summons on 20 counts of illegal short selling. The Securities and Futures Commission…Read More
Legal update: Ten myths about token sale regulation in Hong Kong
No part of the tech universe has a greater abundance of myths than the crypto space, and no part of the crypto space has a deeper black hole of urban legends than the weird and wonderful world of token sales. Here are some of the…Read More
Legal update: SFC bans former Investment Counsellor for taking confidential client lists
The Securities and Futures Commission (“SFC”) announced on 22 January 2018 that under section 196(1)(iii) of the Securities and Futures Ordinance (“SFO”) it has banned former DBS Bank employee Mr Chan Wai-Nun from re-entering the industry for a period of 6 months, on the grounds…Read More
