Training & Knowledge: June 2017

28th Jun 2017Newsletters

Positive developments in third party funding of arbitrations

Hong Kong’s bid to join Singapore as a leading hub for international arbitration was bolstered by the successful passage of the Arbitration and Mediation Legislation (Third Party Funding)(Amendment) Bill 2016 on 14 June 2017. The passage of the Bill means the amendment of the Arbitration Ordinance and the Mediation Ordinance, and marks the coming into […]

28th Jun 2017Newsletters

Competition matters exclusively within the jurisdiction of the Competition Tribunal

The Hong Kong Court of First Instance has affirmed that only the Competition Tribunal has jurisdiction to consider whether the decision of a trade association prevents, distorts or restricts competition in Hong Kong: Loyal Profit International Development Ltd v Travel Industry Council of Hong Kong [2016} HCMP 256/2016. The Defendant is a company limited by […]

28th Jun 2017Newsletters

Coutts Hong Kong fined by the Hong Kong Monetary Authority

On 11 April 2017 the Hong Kong Monetary Authority (“HKMA”) revealed that it had reprimanded Coutts & Co AG Hong Kong (“Coutts”) and imposed a fine of $7,000,000 HKD (£692,000 GBP) for five separate breaches of the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Chapter 615 of the Laws of Hong Kong) (“AMLO”). The […]