- Contentious - Jill has advised on numerous contentious regulatory investigations and internal inquiries involving allegations of :
• market misconduct; such as insider dealing, provision of false or misleading information, etc.
• unlicensed activities
• auditing or reporting irregularities
• weaknesses in internal controls, management supervision or corporate governance
• breaches of business conduct rules or codes; such as SFC Code of Conduct, financial resources rules, dealing with client money, licensing of individuals, breach of margin requirements, issuance of contract notes/statements/receipts
• fraud and corruption;
• breaches of Hong Kong Listing Rules; such as disclosure obligations
• deficiencies in fund management; such as frequent trading, fair treatment of clients and valuation procedures
• money-laundering and counter-terrorist financing
• breaches of privacy legislation; relating to the collection and use of personal data and security breaches
Jill has advised on all aspects of investigations and inquiries : conducting internal investigations; preparing management and regulatory reports; liaising with investors, customers and other stakeholders; advising on remedial action and enhancements to internal controls; accompanying clients to regulatory interviews; submitting defences/mitigating factors or negotiating settlements; advising on “fit and proper” issues and liabilities of senior management and advising on related issues such as disclosure of information, disciplinary action against individuals and corporate governance.
- Advisory and non-contentious - Jill has comprehensively advised on non-contentious regulatory matters across a variety of issues:
• Licensing – initial applications and ongoing obligations
• Business conduct – compliance with codes (codes of conduct, investor protection obligations, professional investor framework, booking centres, cross-border activities, taking of deposits, deposit insurance scheme, disclosures of fees, conflicts of interest issues) and rules (financial resources, client money, AML, deposit insurance scheme)
• Internal controls and corporate governance (including review of internal workflows, independence of directors and structure of boards and board committees)
• Hong Kong Listing Rules – advice on announcements, interim and annual reports and disclosure filings
• Entry and exit from Hong Kong - establishment of Hong Kong offices (including local representative offices), voluntary relinquishment of licences, related employment and other issues
• Client documentation – drafting, review and updating
• Electronic payment systems
• Data protection, direct marketing and outsourcing
- Strategic advice - Jill also advises clients on strategic or important regulatory regimes or changes, and assisting them with business models, liaison with government or regulatory authorities, and enhancements to controls or procedures : enhancement to investor protection regimes, proposed changes to privacy laws, introduction of the Financial Dispute Resolution Centre in Hong Kong, impact of the (new) Competition Ordinance, compliance with new anti-money laundering provisions and so on.
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