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“Mastermind” nominee and warehousing arrangements under scrutiny

Nominee and warehousing arrangements can serve important purposes. However, they are also ripe for abuse. Hong Kong’s Securities and Futures Commission (“SFC”) issued a circular on 9 October 2018 raising concerns about the increasing use of these arrangements to facilitate market and corporate misconduct. This post outlines the key things you should know about these arrangements and the regulatory concerns …

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E-sports – a new ball game

For those who watched the team selection day for the NBA 2K league, you may have been forgiven for being …

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Economic warfare – making sense of the latest sanctions against Iran

The United States (“US”) has continued to strengthen its sanctions against Iran. This post provides a synopsis of the latest …

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New AML/CTF rules for money lenders in Hong Kong

Hong Kong continues to keep up the pace on anti-money laundering and counter-terrorist financing (“AML/CTF”) reforms in 2018. The Companies …

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Latest SFC inspection findings on AML/CTF systems and controls: a warning shot to the industry

The Securities and Futures Commission (“SFC”) issued a robust circular on 31 August 2018 in relation to the adequacy of …

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Putting a stop to slavery: Hong Kong reforms on the horizon?

This post was written by Urszula McCormack and Nikita Ajwani With an estimated 40.3 million slavery victims globally[1], and an …

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Sorry Not Sorry

“Sorry, not sorry” – what do you need to know about the apology legislation in Hong Kong?

On 13 July 2017, the Hong Kong Legislative Council (“LegCo”) passed the long-awaited Apology Bill. It came into effect on …

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Hong Kong customer due diligence requirements: address proof no longer required

Hong Kong’s financial institution regulators have announced a significant change to the customer due diligence (“CDD“) requirements for anti-money laundering …

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Big data and international cooperation – potential impacts for insider dealing actions

Charges for insider dealing are ripe for news headlines – often involving covert arrangements between individuals and driven by greed …

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Bringing it all together: Wolfsberg issues fresh anti-bribery and corruption guidance

We have recently covered corruption and bribery across sport, business and politics. In a timely development, the Wolfsberg Group, an …

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Match Fixing

Hong Kong’s home-grown football scandal: ICAC brings charges for match-fixing

Another day, another football scandal but this time it’s close to home. On 28 June 2017, Hong Kong’s Independent Commission Against …

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