Events listed in Hong Kong
Stamp Duty Ordinance (Cap. 117) (Version Date: 27/01/2023)
ID 21717
A new version of the Stamp Duty Ordinance was published on Hong Kong’s e-Legislation platform, the official site for the publication of legal documents. The updated version contains amendments in the following parts and the addition of a new schedule: – Part 3 – Ancillary Provisions Relating to Part II and Part IIA – Part 7 – Miscellaneous – [Schedule 11 – Transactions relating ...
Further Guidance Concerning Findings of Mystery Shopping Programme on Selling ...
ID 21716
Following the publications of the findings from a recent mystery shopping program in connection with intermediaries engaged in the sale of Qualifying Deferred Annuity Policies (QDAPs) and Tax-Deductible Voluntary Contributions (TVCs) in December 2022 (please see EventID 19133 in this context for more information), the Mandatory Provident Fund Schemes Authority (MPFA) has now published a follow-up circular in this context. Therein, the MPFA provides ...
Conclusion of discussion paper on crypto-assets and stablecoins
ID 21656
Following the issuance of a discussion paper on a proposed new regulatory regime for crypto-assets and stablecoins in January 2022, the Hong Kong Monetary Authority (HKMA) has now published a conclusion paper in this context. Therein, the HKMA briefly describes the feedback it has received to its discussion paper and its way forward in this matter. To recall, in its consultation the HKMA sought ...
Circular to Intermediaries Submission of BCAN-CID Mapping File for the Hong Kong ...
ID 21641
The Securities and Futures Commission, SFC, has issued a circular in connection with the upcoming new Hong Kong Investor Identification Regime (HKIDR) which will come into force on March 20, 2023. Specifically, the circular reminds intermediaries that they may now submit their mapping files including the assigned BCANs (Broker-to-Client Assigned Numbers) and the matched Client Identification Data (CID) to the Stock Exchange of Hong ...
Information Checklist for Termination of a Private OFC or Privately Offered ...
ID 21618
The Securities and Futures Commission of Hong Kong, SFC, has published a revised version of its Checklist for Termination of a Private OFC or Privately Offered Sub-fund under Chapter 10 of the Code on Open-ended Fund Companies. The checklist must be submitted to the SFC when filing an application for the termination of a private open-ended fund company or a privately offered sub-fund of ...
Review of the Implementation of Governance Principles by MPF Trustees
ID 21611
The Mandatory Provident Fund Schemes Authority (MPFA) has issued a circular addressed at trustees of mandatory provident fund schemes (MPFs) to present the findings from a recent review of trustees‘ governance principles and practices. Specifically, in 2018, the MPFA issued a general set of principles that stipulate core governance obligations of MPF trustees in terms of Board composition and oversight, monitoring of MPF valuations, ...
FAQs – Publicly offered investment products: Investment-Linked Assurance ...
ID 21509
The Securities and Futures Commission of Hong Kong (SFC) has published revised frequently asked questions (FAQs) relating to Investment-Linked Assurance Schemes (ILAS), schemes under which life insurance policies are typically coupled with investment options (usually mutual funds shares). The FAQs address – among others – issues such as the application process for an ILAS product, documents to be provided in this context, time limits ...
Government welcomes passage of Companies (Amendment) Bill 2022
ID 21496
The Hong Kong government has published a press statement to announce and welcome the passage of the Companies (Amendment) Bill 2022 by the Legislative Council. The Bill will be officially gazetted on January 27, 2023 and come into force three months after that date. The Amendment Bill modifies the Companies Ordinance to facilitate the holding of virtual or hybrid shareholder meetings. Hybrid meetings thereby ...
Government welcomes passage of Stamp Duty (Amendment) Bill 2022
ID 21495
The Hong Kong government has published a press statement to announce and welcome the passage of the Stamp Duty (Amendment) Bill 2022 by the Legislative Council. The Bill will be officially gazetted on January 27, 2023 and come into force on that date. The Bill will add new schedule 11 to the Stamp Duty Ordinance to exempt market makers from having to pay stamp ...
Exemption from Profits Tax (Debt Instrument Issued by Mainland Local People’s ...
ID 21453
The Hong Kong government has recently gazetted a new order, namely the Exemption from Profits Tax (Debt Instrument Issued by Mainland Local People’s Government at Any Level) Order, which will come into force on March 31, 2023. The order exempts capital gains and interest income derived from government bonds issued in Hong Kong by any (local) government of the People’s Republic of China from ...