equity chambers hong kong

The HKMA’s SPM CA-G-1 “Overview of Capital Adequacy Regime for Locally Incorporated Authorised Institutions” provides guidance on the calculation of the capital adequacy ratio (CAR), which is the collective term that refers to the three risk-weighted capital ratios: Banks incorporated in Hong Kong are required to maintain a CET1 capital ratio of at least 4.5%, a Tier 1 capital ratio of at least 6% and a total capital ratio of at least 8%. The main aims of the Steering Group are to co-ordinate management of climate and environmental risks to the financial sector, and to help accelerate the growth of green and sustainable finance in Hong Kong. Standard Chartered Bank. As one of the minimum criteria for authorisation, the HKMA must be satisfied that every director, manager, chief executive and executive officer of the bank is a fit and proper person. Pupillage is a critical stage in any career at the Bar. 9th FloorThree Exchange Square Central Hong Kong. Sam Ng Equity-linked Capital Markets at Bank of America Hong Kong SAR. Equity has 1 job listed on their profile. Key remuneration principles that underpin sound remuneration polices include: Banks are required to annually disclose matters relating to their remuneration structure and framework, such as: A breach of SPM CG-5 and the related guidance on remuneration may call into question whether the bank concerned continues to satisfy the minimum criteria for authorisation. Found inside – Page 53Reid (Hong Kong SAR, China) Charles Warwick Reid, a lawyer from New Zealand, arrived in Hong Kong to join the Attorney General's Chambers in 1975 and eventually worked his way up to principal crown counsel and the head of Hong Kong's ... Nature of the Regulatory Filings and Related Obligations. The BO provides that no person shall become a “controller” of a Hong Kong-incorporated bank without the prior approval of the HKMA. Most of the commonly placed bank deposits (in any currency) qualify for protection under the Scheme, including current accounts, savings accounts, secured deposits and time deposits with a maturity not exceeding five years. The scope and frequency of AML/CTF training should be tailored to the specific risks faced by the bank. These minimum criteria are set out in the Seventh Schedule to the BO and apply at the time of authorisation, and on a continuing basis thereafter. 2007 He appeared in the high profile "Magic Score" litigation in Hong Kong (Esquire Electronics v HSBC), about breaches of fiduciary duty by a bank. Key roles and responsibilities of the board include: Senior management appointed by the board to operate the bank on a day-to-day basis have key roles and responsibilities, including: The remuneration requirements are set out in SPM CG-5 “Guideline on a Sound Remuneration System”, as supplemented by the HKMA in various guidance and circulars from time to time. conducting appropriate monitoring of transactions carried out for the customers and identifying transactions that are unusually large in amount or have no apparent economic/lawful purpose. The thoughts are summarised in nine guiding principles – covering the issues of governance, strategy, risk management and disclosure – and are designed to help banks develop frameworks and strategies to manage ESG risk. A “customer” is someone (individual or corporate) who has an account with a bank (where the relationship is that of debtor-creditor), or who interacts with the bank such that the relationship of banker and customer exists, even though at that stage there is no account being opened. Private Equity Associate at Platinum Equity. 89 Queensway, Admiralty their business records and other business interests. Liverpool Law Clerk's Best Assessment Performance in Equity & Trust • Mooting - Warwick International Law and Intellectual Property Law Moot 2017 (Runner-Up), The Code for Trust Business aims to enhance the protection of client assets held on trust and to promote the fair treatment of customers and a customer-centric culture in trust business. In 2020, the HKMA worked with the banking sector to explore greater use of technology in banking operations in a number of different areas, including as set out below. Chris Ng General Manager Operation at Big Box singapore Singapore. It examines all aspects of commercial law, with reference to the relevant legislation and cases in Hong Kong and internationally. He obtained his Postgraduate Certificate in Laws at The University of Hong Kong. Audrey Osborn Registered Nurse at Pleasant Bay Nursing and Rehab Center Brewster, Massachusetts, United States 1 connection The duty of secrecy is not absolute and is subject to four major exceptions: A customer may have a claim for damages and/or seek injunctive relief if the bank breaches its duty of secrecy. Welcome to Equity Chambers, formed in 1996 by a group of experienced barristers committed to providing a consistently high quality of service to instructing solicitors. Found inside – Page 128For similar reasoning in the context of restitution for wrongs cf Attorney-General of Hong Kong v Reid [1994] 1 AC ... 136 Birks in Equity and Contemporary Legal Developments (n 132) esp 346; Chambers Resulting Trusts (n 132) esp 19–27. banks should cease to issue new LIBOR-linked products that will mature after 2021 by 30 June 2021.  She has experience in areas such as family and matrimonial matters, public law, land, tort, personal injuries, employee compensation, commercial litigation, trusts, probate and contract. One of the first tasks of the Steering Group is to develop a local green taxonomy for use by all financial regulators in Hong Kong (taking international standards and local circumstances into account). Hong Kong Special Administrative Region. Hong Kong SAR. However, generally, only subsidiaries undertaking relevant financial activities (eg, lending, financial leasing, custodial/safekeeping, etc) would be specified by the HKMA for the consolidated basis. Affinity currently advises and manages US$14 billion of funds and investments, and invests out of its latest US$6 billion Affinity Asia Pacific Fund V. Firm Overview. The HKMA announced that it will explore a new data strategy and build a “Commercial Data Interchange” to facilitate more secure and efficient data flow between banks and sources of commercial data. In particular, the remuneration systems established by the bank should discourage inappropriate and excessive risk-taking that could threaten the safety and soundness of the bank. to promote and maintain the stability and effective working of the financial system in Hong Kong, including the continued provision of critical financial functions; to protect deposits or insurance policies; to contain the costs of resolution and protect public money. An Introduction to the Conflict of Laws - Second Edition (Student) Publication Date November 19, 2019. Phillip returned to Hong Kong in 2012, joining Stephenson Harwood, where he was a Partner in the Litigation Group (Construction and International Arbitration). Found inside1 International Legal Advisor on Asian Equity Offerings as Issuer's Counsel , 1997 - 2002 • Global Counsel ... 2002 World - wide offices Abu Dhabi • Beijing • Brussels • Düsseldorf • Frankfurt • Hong Kong • London • Mannheim • Menlo ... The CFI 2.0 will come into effect on 1 January 2021 and will be implemented in a phased approach. where the disclosure is made with the consent of the customer – consent can be express or implied, and may be given generally or limited to specific information. Key upcoming regulatory developments include the following. This work is the most thorough reference and guide to all major areas of business law and investment in the People’s Republic of China, and offers a wide-ranging analysis and commentary on Chinese business laws. The HKMA expects banks to adopt good practices identified in the BC Report with reference to their own circumstances. In particular, the HKMA has stressed that the board and senior management of banks must (i) establish the banks’ culture and behavioural standards that promote prudent risk-taking and fair treatment of customers, (ii) design appropriate incentive systems to promote cultural and behavioural standards, and (iii) develop appropriate tools to monitor the adherence of individual business units and relevant staff to the banks’ culture and behavioural standards. Biography. The liquidity requirements are set out in the Banking (Liquidity) Rules (Cap. a proportionate balance of fixed and variable remuneration; the use of instruments for variable remuneration; exceptional use of guaranteed minimum bonuses; pre-determined criteria for performance measurement; the deferment of variable remuneration; and. Under the BO and its subsidiary legislation, banks are required to maintain adequate capital adequacy and liquidity ratios. The applicant will also be required to submit a number of documents set out in Annex 2 of the HKMA’s “Guide to Authorisation”. J.P. Morgan, +2 more The Chinese University of Hong Kong, +2 more . may take deposits of HKD100,000 or above with an original term of maturity of at least three months. . The HKMA proposes to introduce a Code of Practice for Trust Business (the Code for Trust Business) applicable to all banks and their subsidiaries conducting trust business. Artificial intelligence (AI) has also been adopted in key functional areas of banks, as a way of improving efficiency and strengthening risk management. Principal Exceptions Permitting Disclosure. City University of Hong Kong . Email: clerks@equitychambers.org.uk. It is generally expected that a Hong Kong-incorporated bank will establish various board committees (such as a nomination committee, audit committee, risk committee, remuneration committee and culture committee) composed of directors (including independent non-executive directors (INEDs)) as part of the bank’s corporate governance framework. The Scheme is funded by annual contributions paid by Scheme members, with the amount being determined by the size of protected deposits held with the Scheme members and the supervisory ratings assigned to them by the HKMA. 16 September 2021. Milbank's Private Equity Hires in Hong Kong Reflect a Changing Market. Under the BO, consent from the HKMA is required for the appointment of directors (for Hong Kong-incorporated banks) and chief executives. Barrister-at-law at Denis Chang's Chambers. HK$ 750.00. • Ownership dispute – representing a joint tenant in defending a claim by the other joint tenant, his former girlfriend, who claims full beneficial interest in the flat (with Mr. Simon Wong) (HCAL 825/2018), • Industrial accident – acting for an airport worker who sustained spinal injuries while performing his job of docking aircrafts (DCPI 589/2020). Phyllis Lee Private Equity Associate at Platinum Equity Los Angeles, CA. Matthew Townsend, Fangda Partners, Hong Kong Matthew is an International Arbitration Counsel at Fangda Partners in Hong Kong and transfer some or all of the business of a failing bank to a purchaser; transfer some or all of the business of a failing bank to a bridge institution; transfer some or all of the assets, rights and liabilities of a failing bank to an asset management vehicle; as a last resort, transfer a failing bank to a temporary public ownership company. Under the AMLO, banks are required to conduct institutional money laundering and terrorist financing (ML/TF) risk assessments to identify, assess and understand its ML/TF risks in relation to: Banks must have AML/CTF systems that are appropriate to the nature, size and complexity of the business, and that are approved and overseen by senior management. 571, Laws of Hong Kong) (SFO), it must register with the Securities and Futures Commission (SFC) as a “registered institution”. To enable a smooth and timely transition before the discontinuation of LIBOR at the end of 2021, the HKMA expects banks in Hong Kong to adhere to the following transition milestones: The HKMA and the Hong Kong Treasury Markets Association are also jointly evaluating the need for a suitable fall-back for Hong Kong Interbank Offered Rate (HIBOR) contracts, but the HKMA has stated that there is no current intention to discontinue HIBOR. Banks that are also “registered institutions” are required to comply with the requirements under the SFO (and its subsidiary legislation) when carrying on the regulated activities. He has experience sitting as presiding arbitrator, co-arbitrator or sole arbitrator in over 30 cases, encompassing . Found inside – Page 734Focuses on international finance MORRISON , David Richards Butler , Hong Kong the Hong Kong office of Baker & McKen- transactions such as debt , equity and +852 2810 8008 zie in 1988 and became a Partner in 1996. equity - linked ... The restriction under section 9P of the Criminal Procedure Ordinance, Cap. map out a communication strategy with the authorities, public, financial markets, staff and other stakeholders to support the deployment of the recovery options. • Employees’ compensation – acted as sole advocate for the 1st Respondent in resisting an EC claim which hinged on the existence of an employer-employee relationship.

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