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Analysis on the Measures on the Security Assessment for Personal Information and Important Data to be Transmitted Abroad (Consultation Paper)
201704-20
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HK rules shed light on personal data protection
The legal framework governing personal information in mainland China is quite limited, with most provisions addressing the issue scattered in the individual clauses of various regulations. Despite this, numerous large enterprises, in order to reduce compliance risks in their operation, have internally formulated policies for protecting customers’ personal information and, when entering into contracts with customers, will sign an agreement for protecting personal information. Hong Kong has substantial reference value when it comes to legislation and the regulation of information protection. This article will discuss personal information protection practice based on the six basic principles enumerated in Hong Kong’s Personal Data (Privacy) Ordinance and relevant cases published by Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD).
201703-05
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Registration of onshore guarantees for offshore indebtedness
Onshore guarantees for offshore indebtedness – commonly known as Nei Bao Wai Dai (NBWD) – refers to cross-border arrangements where a guarantee is provided by an onshore guarantor for a debt owed by an offshore debtor to an offshore creditor. Non-bank institutions and individuals in China involved in NBWD arrangements are required to complete statutory registration with the competent local counterpart of the State Administration of Foreign Exchange (SAFE) within the prescribed time period; otherwise performance of the guarantee contract in question may not be achieved due to the potential failure of remittance of funds, even with a court judgment or arbitral award. This article offers some views on commonly encountered issues.
201702-27
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New Opportunity in China Fund Management Market：Door for Foreign Fund Managers to enter China Market is Now Open
201702-09
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Compliance issues for gifts that advertise
Advertising gifts mean items printed with brand name, logo or slogan that operators give to counterparties or the public in business dealings with the view to increasing awareness or market share. Legal matters involved in advertising gifts include, but are not limited to, anti-business bribery and other competition issues.
201612-27
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Exploring compliant methods of bypassing preemptive right
The term “shareholder right of first refusal” – or preemptive right – means that when a shareholder of a limited liability company wishes to transfer any of his equity to a third party, the other shareholders have, all things being equal, the preemptive right to purchase such equity. The main legal basis for this is article 71 of the Company Law (amended in 2013).
201609-23
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Compliance system needed for enterprise bankruptcies
The Enterprise Bankruptcy Law was considered and adopted by the Standing Committee of the National People’s Congress on 27 August 2006, establishing a market entity withdrawal and rebirth mechanism in legal form for the first time, and filling in the last blank in the legal regime for the market economy. Accordingly, the Enterprise Bankruptcy Law has been seen as a milestone in China’s legal regime for the market economy.
201608-28
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AllBright Newsletter [2016.06]
201606-15
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Compliance issues in listed companies’ outbound M&A
As the “One Belt One Road” policy became a national regime, 2015 witnessed a trend of increasing outbound mergers and acquisitions (M&As). There were more than 300 outbound M&As among listed companies in China in 2015, with a total volume of more than RMB900 billion (US$137.7 billion). We have seen an even faster pace occurring with M&As this year.
201606-09
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Are internet targeted entrusted investment products compliant?
On 18 March, the China Securities Regulatory Commission (CSRC) announced it would intensify the investigation and handling of unlawful engagement in the business of breaking up privately offered products into smaller units and transferring the same. It stated that “if discovered, the same will be stringently dealt with in accordance with the law”. The CSRC stated that “no institution or individual may offer, sell or transfer privately offered products or the right to benefit from privately offered products to unqualified investors, and a single privately offered product may not exceed the statutory upper limit”.
201605-07
