Events listed in Hong Kong
FAQs – Publicly offered investment products: Open-ended Fund Companies
ID 22734
The Securities and Futures Commission (SFC) has published revised frequently asked questions (FAQs) relating to Open-ended Fund Companies (OFCs). The FAQs aim to „provide basic information to market practitioners in respect of open-ended fund companies“, thereby addressing a wide range of topics ranging from registration issues to the discontinuation of sub-funds. Besides some editorial changes (renumbering of pages), this latest revised version contains modificat ...
United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 (Cap. ...
ID 22696
Following the gazettal of the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 (Amendment) Regulation 2023 which came into force on March 31, 2023, a revised version of the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 was published on Hong Kong’s e-Legislation platform. The revised version contains two key amendments in Part 1 and Part 3 with respect to ...
Circular Issued by the Insurance Authority („IA“) on Cessation of Phase ...
ID 22676
On April 4, 2023, the Hong Kong Monetary Authority HKMA issued a circular as regards the „Cessation of Phase 2 of the Temporary Facilitative Measures (TFM)“. Specifically, the HKMA informs authorized institutions and insurance companies about the cessation of specific measures that were introduced in 2020 in light of the COVID-19 pandemic. The measures provided for a non-face-to-face distribution of certain long-term insurance products ...
IRD issues profits tax, property tax and employer’s returns for 2022-23
ID 22647
The Hong Kong government has published a press statement on behalf of the Inland Revenue Department in connection with profits tax, property tax, and employer’s returns for 2022-23. While most information in the press statement is likely to be of little relevance, we would like to point out three key statements of the IRD, namely: (1) From 2023 on, ALL corporations and businesses irrespective ...
Securities and Futures Ordinance (Cap. 571) (Version Date: 01/04/2023)
ID 22633
A new version of the Securities and Futures Ordinance was published on Hong Kong e-Legislation, the official platform of the Hong Kong government for publicizing legal documents. The new version contains amendments resulting from the coming into force of the AML and CFT (Amendment) Bill 2022. To recall, the new bill requires virtual asset service providers to meet fit and proper criteria in order ...
Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (Version ...
ID 22631
A new version of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance was published on Hong Kong e-Legislation, the official platform of the Hong Kong government for publicizing legal documents. The new version contains amendments resulting from the coming into force of the AML and CFT (Amendment) Bill 2022. To recall, the new bill requires virtual asset service providers to meet fit and proper criteria ...
Exemption from Profits Tax (Debt Instrument Issued by Mainland Local People’s ...
ID 22599
On March 31, 2023, the Hong Kong government published its new order, namely the Exemption from Profits Tax (Debt Instrument Issued by Mainland Local People’s Government at Any Level) Order, on Hong Kong e-Legislation, the official website for publicizing legal documents in Hong Kong. The order came into force on March 31, 2023 and exempts capital gains and interest income derived from government bonds ...
United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 ...
ID 22597
On March 31, 2023, the Hong Kong government published a press release to announce the gazettal of the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 (Amendment) Regulation 2023 which came into force on same day. The regulation amends the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 „to give effect to certain decisions on sanctions in the United Nations ...
Circular to licensed corporations Data risk management
ID 22585
In view of the findings from a recent thematic review of data risk management practices of licensed corporations (LCs) (please see the enclosed findings report for more information), the Securities and Futures Commission has published a circular in this context. Therein, the Commission describes its expectations as regards such practices, including expectations pertaining to data collection, classification, usage, retention, transfer, and disposal. Before outlining ...
Re-domiciliation proposal mooted
ID 22581
On March 30, 2023, the Hong Kong government published a press release to announce the launch of a consultation by the Financial Services and the Treasury Bureau (FSTB) on a proposed new re-domiciliation regime for ALL types of companies. The proposed new regime follows the introduction of a similar, highly successful regime for open-ended fund companies in 2021. This time, the regime would apply ...