Regulation

Kennedys provides advice and assistance on a wide range of regulatory compliance issues. We act predominately for clients connected with the insurance and financial services industry with regard to their regulation by the Insurance Authority (IA) and the Securities and Futures Commission (SFC) in Hong Kong.

There is an increasing need for clients to ensure they are aware of their reporting and other regulatory requirements. The IA has stated it is committed to enhancing insurance regulation in Hong Kong and ensuring the Insurance Companies Ordinance is amended to keep pace with international supervisory standards and developments.  The SFC continues to strengthen the regulatory framework for the local securities market and is placing increasing emphasis on the enforcement of its regulatory regime.   

We advise on the following compliance related issues:

• Authorisation of insurers (general, life, composite and captive), insurance intermediaries and financial advisers
• CEPA (the Mainland and Hong Kong Closer Economic Partnership Arrangement) and other cross border trading issues
• Conflicts and disclosure of interests
• Corporate governance
• Compliance handbooks
• New legal and regulatory developments
• Industry regulations, guidelines and codes of conduct and practice
• Prevention of money laundering
• Regulation of insurance products including investment linked products
• Regulatory approval of business, portfolio and share transfers
• Reporting and disclosure requirements
• Reinsurance requirements
• SFC licensing of regulated activities
• Solvency and financial requirements