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In this snapshot legal update, we report that on 25 May 2022, in a written reply by Mr. Christopher Hui, the Secretary for Financial Services and the Treasury, to Legislative Council questions on crowdfunding, Mr. Hui confirmed that the Hong Kong Government is reviewing the regulation of crowdfunding in Hong Kong….Read More

In this snapshot legal update, we report that on 6 June 2022, the SFC issued a warning regarding risks associated with investing in non-fungible tokens (NFTs). The SFC noted that NFTs have risks that are similar to other virtual assets. These include Illiquid secondary markets, volatility, opaque pricing, and hacking and…Read More

In this snapshot legal update, we report that on 12 May 2022 the Privacy Commissioner for Personal Data (“PCPD”) published new guidance on recommended model contractual clauses for cross-border transfers of personal data (“Model Contractual Clauses Guidance”). This supplements prior guidance published by the PCPD on cross-border personal data transfers in…Read More

Investigation reports from the Privacy Commissioner are spilled milk stories that serve as salutary reminders to the mortals among us that there but for the grace of God, go we. This came to the fore again in the investigation report published by the Office of the Privacy Commissioner in Hong Kong…Read More

The Securities and Futures Commission (“SFC”) and the Hong Kong Monetary Authority (“HKMA”) recently published a joint circular on intermediaries’ virtual asset-related activities on 28 January 2022 (the “Circular”). The Circular supersedes the earlier circular to intermediaries on distribution of virtual asset funds on 1 November 2018 (the “2018 Circular”). The…Read More