Deacons

On 28 October 2021, the Securities and Futures Commission (SFC) released the consultation conclusions on proposed amendments to the Code on Pooled Retirement Funds (PRF Code). The amended PRF Code will become effective upon gazettal, which is expected to be some time in November 2021 (Effective Date). The proposals are part of the SFC’s holistic review of the PRF Code following the revision of the Code on Unit Trusts and Mutual Funds (UT Code) which was implemented in 2019, as well as the codifications of existing practices...

On 27 August 2021, the Alternative Reference Rates Committee (“ARRC”), a group of private-market participants convened by the Federal Reserve Board and the Federal Reserve Bank of New York in 2014 to lead the LIBOR transition in the United States, issued FAQs and Best Practice Recommendations on, among other things, the use of the Secured Overnight Financing Rate (“SOFR”) and its term rates (“Term SOFR”), following the ARRC’s formal recommendation to use Term SOFR on 29 July 2021...

Deacons, Hong Kong’s longest established and largest independent law firm, has deepened its regulatory expertise by bringing in Isabella Wong as a Partner in the Financial Services Practice Group. Isabella has re-joined Deacons from a global asset manager after acquiring in-house experience by counselling the manager’s investment management and funds distribution businesses in APAC (ex-Japan) regions. Before moving to an in-house counsel role, Isabella worked at Deacons as a regulatory lawyer for 8 years...

Hong Kong – 7 March 2023 – Deacons, Hong Kong’s longest established and largest independent law firm, has deepened its regulatory expertise by bringing in Isabella Wong as a Partner in the Financial Services Practice Group. Isabella has re-joined Deacons from a global asset manager after acquiring in-house experience by counselling the manager’s investment management and funds distribution businesses in APAC (ex-Japan) regions. Before moving to an in-house counsel role, Isabella worked at Deacons as a regulatory lawyer for 8 years...