James Parker (HK)

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IOSCO Asia-Pacific members support stronger regional cooperation

The Asia Pacific Regional Committee (APRC) of the International Organization of Securities Commissions (IOSCO) published (on 23 March 2015) a framework strategy (Roadmap) to enhance collaboration and cooperation amongst regulators in the Asia Pacific region. The Roadmap provides APRC’s 29 members with an outline of areas for contributions by regulators in support of the region’s … Continue Reading

Remuneration requirements in banks: We compare regulation around the world

The 2008 financial crisis launched a debate on remuneration in the financial services industry which has been particularly acute within the banking sector. To help our clients navigate, understand and keep up to date with current developments, we have produced a comparative analysis on how regulatory requirements concerning remuneration in banks are being treated in … Continue Reading

Principles of Responsible Ownership of Hong Kong listed companies proposed by the Securities and Futures Commission

The Securities and Futures Commission (SFC) has launched a three-month consultation period commencing on 2 March 2015 on the proposed Principles of Responsible Ownership (Principles). The principles are proposed to operate on a non-binding and voluntary basis and investors in Hong Kong listed companies will be encouraged to comply, or to explain why some, or … Continue Reading

Shanghai-Hong Kong Stock Connect update: Short selling of A Shares begins

The short-selling service of Northbound shares (A Shares) (flagged in our previous blog post on 31 January 2015) began on 2 March 2015. Hong Kong and overseas investors can now participate in trading permitted Shanghai Stock Exchange securities (Eligible SSE Securities) under the Shanghai-Hong Kong Stock Connect (Stock Connect). The purpose of rolling out this … Continue Reading

Hong Kong Budget: Development measures for the financial services industry

The Financial Secretary of Hong Kong announced his budget proposals on 25 February 2015 http://www.budget.gov.hk/2015/eng/speech.html.  “Competitiveness” was the stated theme and it included proposals to bolster Hong Kong as an international hub and promote certain industries.  In relation to the financial services industry the following was announced: Consensus has been reached between the Securities and … Continue Reading

Hong Kong launches new supervisory requirements for systemically important banks

The Hong Kong Monetary Authority (HKMA) issued a new module on Systemically Important Banks (CA-B-2) (SIB Module) to its Supervisory Policy Manual on 18 February 2015. The SIB Module constitutes a statutory guideline under the Banking Ordinance and applies to all Authorised Institutions (AIs) whether locally incorporated or not. The SIB Module follows policy frameworks … Continue Reading

Learning & Development training programme – open to our clients in Hong Kong

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.… Continue Reading

The story so far: Shanghai-Hong Kong Stock Connect

The Hong Kong Exchanges and Clearing Limited (HKEx) issued a press release on 6 January 2015 providing an update on the Shanghai-Hong Kong Stock Connect (Stock Connect) since its launch in November 2014 (please see our previous blog post). Of particular interest are the following points noted by HKEx: Engagement with industry bodies and overseas … Continue Reading

Hong Kong regulators publish conclusions on OTC derivative transactions – Reporting and Record Keeping

Draft Securities and Futures (OTC Derivative Transactions – Reporting and Record Keeping Obligations) Rules (Rules) were published on 27 November 2014 together with associated consultation conclusions and a further related public consultation. This follows the HKMA and SFCs public consultation on the topic in July 2014. The Rules will be placed before the Legislative Council … Continue Reading

Shanghai- Hong Kong Stock Connect – 7 days and counting to launch…

The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) today announced 17 November 2014 as the launch date for Shanghai-Hong Kong Stock Connect (Stock Connect). Stock Connect is a pilot mutual market access programme between the Hong Kong (SEHK) and Shanghai (SSE) stock markets, initially announced in April 2014.… Continue Reading

Financial Institutions M&A in Asia Pacific – Ten things to know

As global M&A activity continues to increase, many financial institutions are looking at their Asia Pacific strategy.  To help our clients navigate and understand the varying laws and regulations, we are pleased to present our new guide Financial Institutions M&A in Asia Pacific – Ten things to know, part of our key Asia Pacific publication … Continue Reading