Reform – International
The U.S. SEC and Hong Kong SFC enter into a new cooperation agreement
01 February 2017 - Kurt Wolfe
This blog post was co-authored by Matt Bower, a litigation and regulatory investigations partner based in Hong Kong. The U.S. Securities and Exchange Commission (SEC) and the Hong Kong Securities and Futures Commission (SFC) recently entered into a Memorandum of Understanding (MOU) regarding the supervision and oversight of regulated entities that operate in the United States and › Read More
The Hong Kong “Manager In Charge” regime – a new approach?
22 December 2016 - Matt Bower
This blog post was co-authored by Charlotte Robins, a financial services and regulatory partner based in Hong Kong. On 16 December 2016, the Securities and Futures Commission (SFC) published a ‘Circular to Licensed Corporations Regarding Measures for Augmenting the Accountability of Senior Management’ (Circular) together with associated Frequently Asked Questions. The SFC did so to › Read More
DFS Proposes First-in-the-Nation Cybersecurity Regulation
03 November 2016 - Kurt Wolfe
In September, New York’s Department of Financial Services (DFS) proposed a new first-in-the-nation regulation that would require banks, insurance companies, and other financial services institutions regulated by DFS (‘covered institutions’) to ‘establish and maintain a cybersecurity program designed to protect consumers and ensure the safety and soundness of New York State’s financial services industry’. In › Read More
Bitcoin theft: Regulatory response to an emerging technology
31 August 2016 - Ryan Middlemas
The recent theft of approximately US$60m worth of bitcoins from Hong Kong based cryptocurrency exchange Bitfinex is the latest in a series of Bitcoin thefts. The value of bitcoins fell over 20% in the immediate aftermath of the incident. The theft highlights the continuing legal and regulatory uncertainty in relation to cryptocurrencies. While some jurisdictions › Read More
The real-world impact of the Yates Memo
11 August 2016 - Kurt Wolfe
In September 2015, the U.S. Department of Justice (DOJ) released its policy on Individual Accountability for Corporate Wrongdoing—better known as the “Yates Memo”—which is ‘designed to ensure that individual accountability is at the heart of [DOJ’s] corporate enforcement strategy’. (Investigations Insight has posted a number of helpful pieces on the Yates Memo.) I recently published an › Read More