Legal Updates

29Jan2019

Legal update: The New Profit Tax Exemption Regime for Funds in Hong Kong

Introduction The Inland Revenue (Profits Tax Exemption for Funds) (Amendment) Bill 2018 (“Bill”) which introduces a new set of preferential profit tax treatment for both eligible onshore funds and offshore funds, was published in the Government Gazette on 7 December 2018. The Bill, if made…Read More

02Jan2019

Legal update: Mainland Judgments (Reciprocal Enforcement) Ordinance (Highlights)

Background Previous situation Enforcement of foreign judgments in Hong Kong is ordinarily governed by the Foreign Judgments (Reciprocal Enforcement) Ordinance. Following the handover in 1997 however, China is no longer considered a foreign country by Hong Kong, therefore this ordinance is no longer applicable when…Read More

17Dec2018

Legal update: SFC and CSRC signs Memorandum to Enhance Cooperation and Exchange of Information

The Securities and Futures Commission (“SFC”) has announced on 3 December 2018 that it has entered into a memorandum of understanding (“MoU”) with the China Securities Regulatory Commission (“CSRC”), regarding the cooperation and exchange of information in connection with the supervision and oversight of regulated…Read More

12Dec2018

Legal update: SFC reprimands and fines SFM HK Management Limited HK$1.5 million over illegal short selling

Case Background The Securities and Futures Commission announced on 6 December 2018 that it has reprimanded and fined SFM HK Management Limited (“SFM”) for HK$1.5 million for its naked short selling, contrary to section 170 of the Securities and Futures Ordinance (“SFO”). SFM is licensed…Read More

11Dec2018

Legal update: New claim values for District Court and Small Claims Tribunal in effect

Increases to the maximum claim values in the jurisdiction of the District Court and Small Claims Tribunal came into effect on 3 December 2018, following a consultation launched by the Judiciary in August 2015 and a passing of the resolution by the Legislative Council on…Read More