The government has published a commencement notice for specified provisions (Initial Provisions) of the Insurance Companies (Amendment) Ordinance (Amendment Ordinance). The designated commencement date for the Initial Provisions is 7 December 2015.
This follows the Secretary for Financial Services and the Treasury’s previous announcement (see previous blog entry) that the Amendment Ordinance would be
The Hong Kong Legislative Council passed the Insurance Companies (Amendment) Bill 2014 today (10 July 2015).
The Bill will need to be gazetted before it becomes law. The Secretary for Financial Services and the Treasury, Professor KC Chan, indicated that the Ordinance will be brought into force in three stages. This is to facilitate the
Technology-led innovation has the potential to truly disrupt existing business models and distribution channels in the financial services industry.
In Australia and more broadly, we have seen start-ups build innovative payment systems, peer-to-peer lending platforms, crypto-currencies, robo-advice and automated investment management.
However, the large institutions are well capitalised, have large customer bases and are adapting
MAS has recently issued Notices under the Insurance Act and the Financial Advisers Act on 30 March 2015, covering the Distribution of Direct Purchase Insurance Products [“DPI”] (MAS Notice 321 / FAA-Notice 19). This set of Notices is a follow-up
On 31 March 2015, the State Council of People’s Republic of China formally released the Deposit Insurance Regulation (the Regulation), which will take effect from 1 May 2015. A draft of the Regulation was circulated on 30 November 2014 to solicit public comments and we prepared a briefing on such draft in December 2014.
Compared
Our Hong Kong office has released a Learning & Development calendar for March – September 2015. Clients are invited to join a range of legal and personal development and business skills sessions. We are holding a session in June on Corporate governance in financial institutions.
This article first appeared in the September 2014 issue of Asia Insurance Review
On 21 March 2014, China Insurance Regulatory Commission (CIRC) issued the Administrative Measures on the Acquisition and Merger of Insurance Companies (the Insurance M&A Measures) which has taken effect since 1 June 2014.
The Insurance M&A Measures apply to M&A activities where