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Padraig Walsh
Legal update: SFC review of online investment services
In this snapshot legal update, we report that on 31 August 2022, the Securities and Futures Commission issued a circular to licensed corporations in relation to the SFC’s review of online brokerage, distribution and advisory services (the “Circular”). The SFC conducted a review of the…Read More
Key Terms of Shareholder Agreements for Investment
1. Overview A shareholder agreement is an agreement between the shareholders of a company. Shareholder agreements establish additional rights and obligations between the shareholders themselves, and supplement the rights under Articles of Association. As Articles of Association are public, often the shareholders wish to set…Read More
Legal update: Consultation on proposed acceptance of commitments from seven car distributors
In this snapshot legal update, we report that on 1 August 2022, the Competition Commission commenced a consultation on its proposal to accept legally binding commitments (“Proposed Commitments”) from seven car distributors (covering 17 car brands) (“Distributors”) relating to their restrictive warranty terms and conditions…Read More
Pádraig Walsh is an Asian Legal Business Super 50 TMT Lawyer for 2022
This past year, the Tanner De Witt TMT team advised on the full range of common TMT issues, including licensing, technology procurement and integration, subscription service arrangements, virtual asset regulation, data protection, cyber, telcom regulation, and venture capital and corporate transactions. We thank our clients…Read More
Equity Incentive Plans
1. What is an equity incentive plan? An equity incentive plan is a scheme adopted and approved by a company that sets out rules that apply to a contract between a company and an individual to provide the individual an interest in or linked to…Read More
Subscription Agreements for Investment
Overview A subscription agreement sets out the terms of an equity investment into the company. It will set out the commercial terms of the investment such as the subscription price for shares, and the class and number of shares to be purchased. It will bind…Read More
Legal update: Law Reform Commission public consultation on new cyber-crimes
In this snapshot legal update, we report that on 20 July 2022, the cybercrime sub-committee of the Law Reform Commission published a consultation paper with its recommendations to introduce five new cyber crimes into law in Hong Kong. The consultation paper followed a comparative and…Read More
Approaching investors with confidence
Before approaching an investor, remember the five P’s: Proper Preparation Prevents Poor Performance. We recommend conducting background due diligence on the potential investor before meeting to see if the investor is suitable for your business. Here are a few topics to explore: 1. The investment…Read More
Data Breach Case Study: Data loss risk in our physical environment
“Human factors always play a significant role in data breaches.” These simple but wise words resonated in our review of a recent investigation report published by the Privacy Commissioner in Hong Kong on 13 June 2022 regarding the loss of physical files containing sensitive personal…Read More
Due Diligence Tips
Why should you prepare for Due Diligence? It is important to have all the materials concerning due diligence prepared and organised prior to approaching an investor. This will allow you to keep the focus on the actual funding process and transaction documents, rather than responding defensively…Read More
Legal update: SFC Consultation on clarification to offering document exemptions
In this snapshot legal update, we report that on 10 June 2022, the SFC launched a public consultation exercise that includes a proposed clarification to an exemption from SFC authorisation for offering documents for securities. The Securities and Futures Ordinance prohibits the issue of advertisements…Read More
Legal update: Legislative proposal to amend the Electronic Transactions Ordinance
In this snapshot legal update, we report that on 13 June 2022, in a panel on information technology and broadcasting, members of the Legislative Council were briefed on the legislative proposal to amend the Electronic Transactions Ordinance (“ETO”). The proposals will support further implementation of…Read More
