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With the PRC’s Belt and Road Summit 2017 having just taken place in May 2017, one of the key messages from the summit was that, even with over US$100 billion in funding pledges from the PRC government and other participating countries, greater private sector participation will be required to bring the Belt and Road projects into fruition. With a recent Asian Development Bank report estimating that developing Asia will require infrastructure investment of US$26 trillion…
On 6 April 2017, the Government and financial regulators in Hong Kong, namely the Hong Kong Monetary Authority (HKMA), the Insurance Authority (IA) and the Securities and Futures Commission (SFC), published their conclusion on the public consultation relating to the protected arrangements regulation, bringing the Financial Institutions (Resolution) Ordinance (Chapter 628 of the Laws of Hong Kong) one step closer to commencement. The Financial Institutions (Resolution) Ordinance, which establishes the operation of a resolution regime…
Hong Kong’s new Manager-In-Charge regime comes into effect on 18 April 2017. This introduces measures to heighten the accountability of the senior management at licensed corporations and increase awareness of their obligations. The Manager-In-Charge Regime impacts all corporations licensed by the Securities and Futures Commission and their senior management in Hong Kong. Senior management outside of Hong Kong may also fall within the scope of the Manager-In-Charge Regime. In this update we pose some key…