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Regulatory
Legal Update: Developments in virtual asset regulation in Hong Kong
In this snapshot legal update, we report on various announcements and policy updates announced during Hong Kong FintechWeek in respect of virtual assets (“VA”). On 31 October 2022, the Securities and Futures Commission (“SFC”) issued a circular on virtual asset futures exchange-traded funds (“VA Futures…Read More
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
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
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: Review and public consultation on cybersecurity law in 2022
In this snapshot legal update, we report that on 25 May 2022, in a written reply by Mr. Alfred Sit, the Secretary for Innovation and Technology, to Legislative Council questions on cybersecurity standards in Hong Kong, Mr. Sit confirmed that the Hong Kong Government is…Read More
The new licensing regime for Virtual Asset Service Providers: The Amendment Bill
The long-awaited Virtual Asset Service Providers (“VASP”) licence regime is coming closer with the Hong Kong government gazetting the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 on 24 June 2022 (“Bill”). We reported on the key points of the consultation and the conclusion (collectively,…Read More
Legal update: Review and public consultation on crowdfunding in 2022
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…Read More
Legal update: SFC warns of risks associated with NFTs
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,…Read More
Tanner De Witt seeks Corporate and Commercial Solicitor (2-4PQE)
THIS POSITION HAS BEEN FILLED. WE ARE NO LONGER ACCEPTING APPLICATIONS. Tanner De Witt is seeking a Hong Kong-qualified solicitor with 2 – 4 years PQE and a focus on non-contentious corporate, fund and regulatory matters. Join one of the largest independent law firms in…Read More
Data breach: Lessons from a recent investigation report in Hong Kong
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…Read More
2022 Joint Circular of SFC and HKMA on Virtual Asset Dealing and Advisory Service
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…Read More
Press release: Tanner De Witt further grows commercial and regulatory practice with appointment of consultant Munenori Kaku
Click here to read the Japanese translation of this press release. Tanner De Witt confirms the appointment of senior commercial and regulatory lawyer Munenori (Muny) Kaku as a Consultant with the firm’s Corporate and Commercial practice. The appointment was effective Monday 20 September 2021. Muny,…Read More
