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Is the writing on the wall for the shareholder principle? Privilege update in Hong Kong

The concept of the “shareholder principle” in English law provides that a company cannot assert privilege against its own shareholders, unless the privileged documents in...

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No permission, no problem – HK regulator given green light to bring proceedings directly against overseas defendants

The Hong Kong Court of Final Appeal has held that the Securities and Futures Commission (SFC) can serve overseas defendants as of right, without needing the court’s permission, making ...

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Hong Kong to adopt landmark change to state immunity from start of next year

It is anticipated that as of 1 January 2024, Hong Kong will follow the PRC in making a significant change to its concept of “sovereign” or “state” immunity which...

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Financial Institutions Horizons 2023

The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset...

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Privilege claimed, privilege protected? English court orders release of "privileged" documents adopting "fraud exception"

The English High Court has issued a stern reminder that legal professional privilege is not absolute, and that orders may be made for the disclosure of documents "notwithstanding any...

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Keep out of the way – first Hong Kong conviction for obstruction under s.382 SFO

A Hong Kong court has for the first time convicted and imprisoned an individual for obstructing employees of the Securities and Futures Commission (SFC) in performance of their functions...

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Dangers of a green sheen – the legal and regulatory risks of ESG "greenwashing" in Hong Kong

Recent incidents such as the United Kingdom (UK) Advertising Standards Authority's banning of a bank's advertisements for potentially misleading consumers about its green...

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A disappointing sequel? Hong Kong court dismisses challenge to SFC restriction notice regime

The Court of First Instance has dismissed a judicial review application against certain provisions in the Securities and Futures Ordinance (Cap. 571) (SFO) which empower the Securities and...

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Hong Kong Competition Commission brings first court case on resale price maintenance

For the first time since the Competition Ordinance came into effect, the Hong Kong Competition Commission (HKCC) has commenced court proceedings against a supplier for resale price...

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