Financial Markets in Hong Kong

Abstract

This new edition provides a guide to the main areas of financial regulation and financial law in Hong Kong. Given the massive changes in financial regulation globally as a result of the 2008 global financial crisis and post-crisis international regulatory reforms, this book addresses these changes in Hong Kong markets and their legal and regulatory frameworks, as well as the implications of these changes to future market development. The book is in five parts. The first part considers the evolution of Hong Kong’s role as a financial centre and the development of its financial regulatory structure, one that is perhaps unusually complex given the size of the jurisdiction. The second part discusses the regulation of the banking, securities, and insurance sectors, including the regulatory powers of the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission of Hong Kong (SFC), the Office of the Commissioner of Insurance (OCI), and the forthcoming independent Insurance Authority (IA). The third part covers regulation of financial products and services, including securities offerings and listings, investment products and asset management, financial derivatives, and takeovers and mergers. The fourth part addresses market conduct and misconduct, including corporate governance, market abuse, and financial crime. Finally, the fifth part examines the international context, focusing on the relationship between Hong Kong’s financial markets and regulation and mainland China as well as key issues for Hong Kong’s role as a major global financial centre.