Securities and Futures Ordinance (Cap.571): Commentary & Annotations 2019 Edition


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Securities and Futures Ordinance (Cap.571): Commentary & Annotations 2019 Edition
Dec 2019

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The 2019 Edition is fully updated: reviewing and analyzing all the amendments to the law over the last five years with cross-referencing to corresponding legislation:

  1. Changes to the Companies Ordinance (Cap.622) regarding the incorporation of open-ended investment fund companies;
  2. Now standard regulations regarding the over-the-counter (OTC) derivatives market as now fully incorporated and regulated in accordance with the 2014 Amendments; 
  3. Now standard regulations providing supervisory assistance to regulators outside of Hong Kong (i.e. printed licences and certificates of registration) as prescribed in the 2015 Amendments;
  4. New regulations for the incorporation, registration, and management of open-ended fund companies (OFC) resulting from the 2016 Amendments  - introducing  a new OFC structure allowing companies to be more flexible in their share issuing structure – just fully enacted this past July 2018;
  5. New powers given to the Securities & Futures Commission to resolve a company under financial distress as a result of the Financial Institutions Ordinance (Cap.628); 
  6. Reviews the progress of the proposed on the HK Exchange’s company listing reforms – controversial as lawmakers/attorneys and the Securities Futures Commission have differing views; 
  7. New duty of care on Financial Institutions creating a new action in tort for damages – investors may now file a claim for damages if the financial products sold by these financial institutions are not reasonable suitable. 

The latest edition book analyses the latest and most recent reforms and amendments to the Ordinance with cross-referencing to all related codes, guidelines and circulars, etc. This text continues to be a comprehensive and practical guide which provides a better understanding and analysis of the law.   

Jurisdiction: Hong Kong