Over the past five years since the previous edition, the legal landscape around the Securities and Futures Ordinance (SFO) has been particularly active, keeping legal professionals engaged with numerous cases and enforcement actions. A search of the Judiciary's website reveals 191 judgments related to the SFO, and the Securities and Futures Commission has issued 313 enforcement news items during this period. These developments are reflected in the current edition, with many of these matters involving the General Editor and the expert contributors of this title. 

The 2025 Edition of Securities and Futures Ordinance (Cap.571) continues to be a valuable resource for those engaged in this dynamic and rapidly evolving area of law. 

The text is for persons involved in compliance for international and local financial institutions within the scope of Cap. 628, which consists of 244 sections over 15 Parts, and 9 schedules. The Ordinance implements the Financial Stability Board’s “Key Attributes of Effective Resolution Regimes for Financial Institutions”. It is a cross-sectoral statute that provides for new regulatory powers for the existing regulators in respect of ALL banks, certain insurers and licensed corporations, as well as financial market infrastructure entities, and establishes two new administrative tribunals for review purposes.

• Compiles topics discussed at the joint APSA and Hong Kong Institute of Bankers (HKIB) Forum Dialogue on the “Belt and Road Initiative: Infrastructure Financing” held on 15 October 2018 at the HK Convention and Exhibition Centre.
   
• Articles are authored by the keynote speakers at the Forum as well as other renowned professionals and academics.
   
• Analyses the relationship between Hong Kong finance and professional bodies with governmental organisations participating in the Belt and Road Initiative in China, highlighting: (i) Hong Kong’s part in contributing to the Initiative; (ii) national policies and objectives; (iii) structured and infrastructure financing; and (iv) securitisation.

As an international finance centre, Hong Kong has a world-renowned legal system, accounting procedures, engineering and construction management, financing and investment schemes, as well as an advanced and well-developed infrastructure. A major offshore renminbi (RMB) centre with a unique advantage stemming from its “one country, two systems” designation, Hong Kong is in an excellent position to be a major participant in China’s Belt and Road Initiative. There is lack of synergies amongst Hong Kong''s local finance and professional bodies, as well as organisations and government entities who are participating in the Inititive. Moreover, there is limited understanding of how this new infrastructure financing system will operate in China. This text serves as a supplemental guide to the joint APSA and Hong Kong Institute of Bankers (HKIB) Forum Dialogue on the “Belt and Road Initiative: Infrastructure Financing” which brought together experts from China and Hong Kong as well as senior executives from finance institutions. This documentation of discussions at the forum will hopefully increase the understanding of Hong Kong’s role in the Belt and Road Initiative, and enhance collaboration between all participants and stakeholders.

A clear and concise collected volume of all the annotated ordinances for practitioners, banking and corporate professionals, financers and investors in Hong Kong.

Money-laundering is prevalent and has been an increasing concern in Hong Kong, with rates far exceeding the global average. The Hong Kong Anti-Money Laundering Ordinances: Commentary and Annotations encompasses the latest materials on the three major Anti-Money Laundering Ordinances: Drug Trafficking (Recovery of Proceeds) Ordinance (Cap 405); Organized and Serious Crimes Ordinance (Cap 455); and Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap 615).

The 2nd Edition is fully updated: reviewing and analyzing the recent updates and amendments that affect the Ordinance with cross-referencing to corresponding laws:

1. Applications and references to the corresponding sections to the: Companies Ordinance (Cap.622); Securities and Futures Ordinances (Cap.571); Banking Ordinance (Cap.155); Inland Revenue Ordinance (Cap.112); as well as international anti-money laundering standards;

2. Firms/Financial Institutions duty to comply with the AMLO – Revised rules and regulations to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation;

3. Updated requirements of Firms/Financial Institutions (i.e. banks) to take preventative or mitigating measures commensurate with the nature and scope of the money laundering or terrorist- financing risks by identifying high-risk clients;

4. Revised customer due diligence measures (CDD) which must be undertaken and complied with prior to establishing any business relationship or conducting with, or conducting occasional transactions for customers;

5. New amendment of the AMLO to prescribe the statutory CDD and record-keeping requirements applicable to solicitors, accountants, real estate agents and trust and company service providers (“Designated Professions”) when they engage in specified transactions;

6. New amendments that require Firms/Financial Institutions to establish and maintain adequate and appropriate risk-based controls to address trade-based money laundering risks as well as develop written policies and procedures to assess and mitigate money laundering risks arising from trade-related activities;

7. Proposed amendments to the Companies Ordinance (Cap.622) to require companies incorporated in Hong Kong to maintain beneficial ownership information.

ProView eBook Exclusive Content:

1. The Monetary Authority’s Guideline on Anti-Money Laundering and Counter-Terrorist Financing (For Authorized Institutions);

2. The Securities and Futures Commission’s Guideline on Anti- Money Laundering and Counter-Terrorist Financing (For Licensed Corporations);

3. The Insurance Authority’s Guideline on Anti-Money Laundering and Counter- Terrorist Financing (For authorized insurers, reinsurers, appointed insurance agents and authorized insurance brokers carrying on or advising on long term business); and

4. Guidance Paper on Combating Trade-based Money Laundering

Banking Law and Practice in Hong Kong examines the legal principles relevant to a broad range of modern banking activities with special reference to Hong Kong. It considers significant changes in banking regulation and practice providing readers with an up-to-date commentary of the current law. In particular, the book addresses:

(i) banking policy, regulation and supervision;

(ii) the structure of banking business in Hong Kong;

(iii) specific legal issues related to retail banking business;

(iv) bank secrecy and duty of confidentiality; and

(v) issues related to the prevention of money laundering.

Offering a fresh, practical approach, this book is a key resource not only for those studying aspects of banking law but also for banking and legal professionals alike.

With the backdrop of the ongoing, global financial uncertainties, no other resource out there covers both the banking and legal regulatory systems of the five, key global markets:  Hong Kong, China, The United States, European Union and United Kingdom

• Assistant Professor, Faculty of Law, Chinese University of Hong Kong
• Taught financial law at University of London and was the director for the MBA Banking on the University of London External Programme
• Lectured Equity & Trust, English Commercial Law, Company Law, and Banking & Finance at the Bangor University

• Laws of each region are illustrated and compared
• Provides information on how these markets interact with each other to co-exist in the international financial market
• Covers the regulatory schemes in place to prevent the abuse of the banking system leading to another financial crisis

• Foundation of the markets – a view of what constitutes the markets
• International transaction fundamentals – basic questions and answers asked in the beginning of international transactions, e.g. conflict of laws
• Risk mitigation - examination of the important techniques and strategies essential to both international and domestic instruments
• Rules and regulations – discusses those which have an impact on the international transactions

This Book looks principally of these major regions of the United States, European Union, United Kingdom with comparative illustrations of the Hong Kong and China banking and financial systems and markets. It also illuminates to the readers of the breakdown of the financial safeguards which lead to the 2008 financial crisis and the new legal principles and regulations put in place by the key Western financial systems related to banking practice in hopes of preventing a subsequent crisis and clearly illustrates their application by reference to case law and the key legislation.