Mayer Brown Asia’s Post

In anticipation of the 2 October 2024 start date for the SFC to regulate top-level trustees and custodians (depositaries) of authorised funds in Hong Kong under a new Type 13 regulated activity (RA 13), our Dispute Resolution partner Alan Linning and Corporate & Securities funds counsel Helen Wang have delivered seminars to clients on "SFC Regulatory Expectation of an RA 13 Licensed Entity". Alan took the audience through the development of the new regulatory framework and Helen followed with an overview of the SFC licensing requirements for a licensed corporation and its responsible officers (ROs), the Managers-in-Charge (MICs) and licensed representative (LRs). In the second part of the presentation, Alan focused on the ongoing obligations of licensees, covering the applicable legal and regulatory requirements found in various product codes, the SFC Code of Conduct (including the new Schedule 11 specifically applicable to depositaries), internal control guidelines, and more. In particular, Alan discussed a number of SFC enforcement actions and other case studies to highlight the responsibilities of senior management. #SFC #RA13 #Depositaries

Last month, Hong Kong Insurance partner Marina Fung and senior associate Trevor Y. T. Wong delivered a seminar on "Recent Developments and Future Trends in Personal Injury Claims Arising from Work Accidents" at Swire Properties Limited – which was attended by approx. 80 colleagues from various departments. Insurance partner Angela Yim also took part in the event. Trevor kicked off the session with statistics on work injuries and legal aid applications in Hong Kong; before covering the increase in compensation level in Schedule 6 of the Employees' Compensation Ordinance, and providing legal updates on a case regarding Employees' Compensation (EC) recovery claims. He also discussed the updated judicial requirements for Single Joint Examination (in order to produce joint medical reports), as well as indicators of fraudulent claims and recent trends. Trevor concluded his presentation by providing insights on the judicial approach towards unmeritorious personal injury claims, by analysing three recent court judgments. Marina wrapped up the seminar with a deep dive into the future developments in EC and personal injury law. She specifically addressed the management of EC claims related to psychiatric injuries and highlighted the Law Reform Commissioner's 2023 recommendations on Periodical Payment Orders, which differ from the traditional lump sum approach. It was also wonderful to field so many interesting questions during the lively Q&A session. #WorkAccident #Claims #Insurance 

Mayer Brown Litigation & Dispute Resolution partner Jason Leung participated as a distinguished panelist in the Adjudication Conference 2024 organized by the Hong Kong Institute of Construction Adjudicators (HKICAdj) on June 28, 2024. Held at the South China International Arbitration Center, the conference focused on the theme "Getting Prepared with Security of Payment and Opportunities in Adjudication." Jason Leung, along with other industry experts, provided valuable insights into the recent updates on security of payment in the construction industry. His session explored recent updates and potential legal implications of the forthcoming Construction Industry Security of Payment legislation. Other sessions at the conference included opportunities in adjudication and discussions of practical experiences in adjudication. Mayer Brown is dedicated to sharing our expertise and contribution to the growth and development in the legal and construction industries. We look forward to continuing our involvement in events that shape the future of the industry. We would also like to express our appreciation to the Hong Kong Institute of Construction Adjudicators (HKICAdj) for inviting Jason to speak at this successful event, providing a platform for industry professionals to collaborate and exchange valuable insights. #AdjudicationConference2024 #Construction #SecurityofPayment

The passage of the Extension of Government Leases Bill by the Legislative Council on 26 June 2024 marks a significant milestone for the Hong Kong property market. The new legislation, which will come into effect on 5 July 2024, focuses on the extension process for government leases in Hong Kong (without rights of renewal being granted) that are set to expire on or after 5 July 2024, and addresses the concerns of many property owners whose government leases will expire by 30 June 2047.   Peter Ho, Eugene Wong and Wayne Cheng provide an overview of the new legislation and highlight the key takeaways: https://lnkd.in/gfSeMt4j #RealEstate #LandLeases #HongKong

We are thrilled to announce our collaboration with The University of Hong Kong's Community Legal Information Centre 社區法網 (CLIC) to contribute to an online chapter on “Consumer Credit”. CLIC is the largest free online community legal information platform targeting the general public in Hong Kong, which is run by the Law & Technology Centre (jointly run by the Faculty of Law and the Department of Computer Science) of The University of Hong Kong. CLIC aims to equip the public with fundamental legal knowledge crucial to their daily lives, enabling them to make informed decisions and providing guidance on where to seek free or subsidised legal assistance. Consumer credit plays a pivotal role in modern society, allowing one to access funds for diverse needs. In this chapter, readers can have a high level overview of legal issues relating to borrowing and access to credit for consumers, including issues relating to the Money Lenders Ordinance, the Pawnbrokers Ordinance, general terms and conditions in a loan agreement, overdrafts, credit cards, loan intermediaries and debt collection agents in Hong Kong. The initiative is spearheaded by our cross-practice team, including Financial Services Regulatory & Enforcement partner Sara Or, Finance partners Dion Yu and Angie Chan, along with Litigation partner Raymond Chan, and supported by associates Matthew Fok, Felicia Chan and James Leung as well as trainee solicitors Nikita Chan, Tina Dao, Melissa Lam, Calvin Tan and Natalie Yu. This project underscores our commitment to leveraging our professional expertise for the betterment of our community. We are honoured to go hand in hand with CLIC, reaching out to the broader public to foster legal literacy and empowerment. Read the Consumer Credit chapter here: https://lnkd.in/gsY7FhXH #ConsumerCredit #Probono #HongKong

Our latest Asia IP & TMT Quarterly Review covers a number of recent legal developments in arbitration, artificial intelligence, data privacy, and telecommunications and the influence these developments would have in the IP and TMT space in Asia. We discuss the growing popularity of arbitration over litigation for IP & TMT disputes in Asia, and how the new 2024 HKIAC Rules have been designed to promote efficiency and diversity in international arbitration. In the AI space, we look at the new Artificial Intelligence Model Personal Data Protection Framework in Hong Kong, which provides practical recommendations and guidelines for organisations considering AI systems reliant on personal data. Against the background of Scarlett Johansson’s complaint of OpenAI’s voice assistant, we also look at a recent court decision issued by the Beijing Internet Court involving the unauthorised use of voice recordings to train an AI text-to-speech application. This edition also explores the easing of cross-border data transfer requirements and the relaxation of foreign investment restrictions on value-added telecom services in China. The Asia IP & TMT report is co-authored by Gabriela Kennedy, Amita Haylock, Jennifer Huang, Maleeha Khan, Joshua Woo, and Grace Wong. Read the full report: https://lnkd.in/gBUShj7y #Arbitration #AI #DataProtection #HongKong #China

Insurance Litigation partner Angela Yim and associate Pearl Leung discuss the recent decision of the Hong Kong District Court in Wong Sin Yi v. Kwan Pui Wing and The Kowloon Motor Bus Company (1933) Limited (DCPI 408/2023), which serves as a reminder to legal practitioners to realistically assess the likely recoverable damages of claims before determining the appropriate level of court to commence legal proceedings in Hong Kong. Learn more: https://lnkd.in/gE6s9ctB #Injuiry #Claims #HongKong

Hong Kong Litigation & Dispute Resolution partners Alan Linning, Wilson Fung and senior associate Johnson Ng contributed to the Hong Kong chapter of Lexology In-Depth: Securities Litigation, Edition 10. This chapter provides a guideline and well-rounded insights on securities litigation in Hong Kong in terms of public and private enforcements, discussing the procedures, settlements, and remedies of these enforcements . Access the Hong Kong chapter of the Guide at: https://lnkd.in/gCN9NtuG (subscription only) 

We enjoyed a fantastic gathering with the LGBT+ and ally community during the Pride Month Quiz Night, co-hosted by Mayer Brown Asia and Community Business in Hong Kong. Five teams, including team Mayer Brown and others teams with mentors and mentees of Community Business' LGBT+ Mentorship Programme, took part in the quiz that tested their knowledge about legal, cultural, entertainment, and historical aspects of LGBT+ community around the world. Congratulations to the winning team, Glitter Fever! The event was part of the LGBT+ Mentorship Programme which aims to grow the number of LGBT+ professionals in the leadership pipeline in Hong Kong to influence policy and decision-making across industry sectors. #DEI #LGBT