Appointment of Chairman of Market Misconduct Tribunal and Securities and Futures Appeals Tribunal

     The Chief Executive has reappointed Mr Michael John Hartmann, a former Non-Permanent Judge of the Court of Final Appeal, as Chairman of the Market Misconduct Tribunal (MMT) for a term of three years from December 1, 2023, to November 30, 2026, and as Chairman of the Securities and Futures Appeals Tribunal (SFAT) for a term of three years from January 1, 2024, to December 31, 2026.
 
     Announcing the appointment today (October 20), the Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "Mr Hartmann has made remarkable contributions to the performance of both Tribunals over the years. No doubt he will continue to guide the Tribunals to operate effectively in the new term."
 
     Both the MMT and the SFAT are established under the Securities and Futures Ordinance (Cap. 571) (SFO).
 
     The MMT deals with six types of market misconduct, namely insider dealing, false trading, price rigging, disclosure of information about prohibited transactions, disclosure of false or misleading information inducing transactions, and stock market manipulation. In addition, the MMT is empowered to deal with the breaches of disclosure requirements on price sensitive information of listed corporations.
 
     The SFAT has jurisdiction to review specified decisions made under the SFO by the Securities and Futures Commission (SFC), the Hong Kong Monetary Authority and an investor compensation company recognised by the SFC. It serves as an effective safeguard to ensure that the relevant regulatory decisions are reasonable and fair.
    
     Mr Michael Victor Lunn, a former Vice-President of the Court of Appeal of the High Court, and Mr Ian Charles McWalters, a former Justice of Appeal of the Court of Appeal of the High Court, are the other serving Chairmen of the MMT and the SFAT.




2023 final register for Rural Representative Election released today

     The 2023 final register for the Rural Representative Election (RRE) was published today (October 20). The final register contains the particulars of the registered electors of Existing Villages, Indigenous Villages, Composite Indigenous Villages and Market Towns. Registered electors may log into the RRE Voter Registration Information Enquiry System through the RRE website (www.had.gov.hk/rre) for perusal of their own registration particulars. They may also call the RRE hotline at 2152 1521 during ordinary business hours with enquiries about the relevant information.

     A full copy of the final register is placed at the office of the Electoral Registration Officer located at the Home Affairs Department (HAD), 30/F, Southorn Centre, 130 Hennessy Road, Wan Chai. Copies of the specific divisions of the final register for Rural Areas covered by the respective Rural Committees are placed at the offices of the Assistant Electoral Registration Officers in the respective New Territories District Offices (NTDOs). Pursuant to section 30 of the Electoral Affairs Commission (Registration of Electors) (Rural Representative Election) Regulation (Cap. 541K) (the Regulation), specified persons including persons who subscribe to the Government News and Media Information System maintained by the Director of Information Services, bodies/organisations that meet the specified requirements under the Regulation, the Heung Yee Kuk, the respective Rural Committees for the relevant Rural Areas, indigenous inhabitants of the relevant Indigenous Villages or Composite Indigenous Villages, residents of the relevant Existing Villages or Market Towns as well as validly nominated candidates at a coming election may inspect the aforementioned final register of electors for purposes relating to the RRE, by making an appointment through the RRE hotline or the relevant NTDOs during ordinary business hours starting from today.

     The ordinary business hours of the HAD and NTDOs stipulated for the above purpose run from 9am to 1pm and 2pm to 6pm from Monday to Friday (except public holidays).

     Statistical information about the final register is available on the RRE website.

     For enquiries, please visit the RRE website or call the RRE hotline.




HKTE to co-host online job fair with insurance industry

     Hong Kong Talent Engage (HKTE) will co-host the "Greater Bay Area New Era: Insurance for the Future" Hong Kong Insurance Industry Online Live Recruitment Event today (October 20) in collaboration with the Hong Kong Federation of Insurers (HKFI) to engage Mainland talents who are interested in coming to Hong Kong for development, particularly those from the Guangdong-Hong Kong-Macao Greater Bay Area in better understanding the outlook and opportunities of the insurance industry in Hong Kong.
 
     The Secretary for Labour and Welfare, Mr Chris Sun, and the member of the Governing Committee of the HKFI Ms Winnie Wong, will deliver opening remarks. Eleven major insurance companies in Hong Kong will participate in the job fair and offer over 140 vacancies in areas including actuaries, business development, data analytics and contract service. Mainland talents can submit job applications and enquire about the job vacancies through the online live recruitment event to explore job opportunities in the Hong Kong insurance industry. They may also learn more about the details of various admission schemes through HKTE after the online event. 
 
     The job fair will be broadcast at 3pm online and job seekers may watch and participate via xjh.zhaopin.com/show/13903 (Chinese only).
 
     This online live recruitment is the first large-scale event co-hosted by HKTE and a local business sector. An HKTE spokesman said that HKTE will continue to collaborate with different sectors to attract talent from around the world to come to Hong Kong for development.




HKETONY promotes cross-border asset and wealth management in New York (with photos)

     Enthusiastic financial and business executives in New York gathered on October 19 (New York time) at the seminar on "Unlocking Opportunities in Cross-Border Asset and Wealth Management", co-organised by the Hong Kong Economic and Trade Office in New York (HKETONY) and the Hong Kong Association of New York.
      
     In her opening remarks, the director of the HKETONY, Ms Maisie Ho, highlighted Hong Kong's achievement and its development as an international asset and wealth management hub despite challenges from the post-pandemic world and ever-changing external environment.
      
     "To enhance the city's competitiveness as an international asset and wealth management centre, the Government has issued a Policy Statement on Developing Family Office Businesses in Hong Kong in March this year, highlighting eight major strategies to develop a vibrant and holistic family office ecosystem," she said.
      
     Ms Ho shared some of the latest developments since the Policy Statement was issued, such as the policy on profits tax exemption for family-owned investment holding vehicles managed by single family offices in Hong Kong, as well as a new Capital Investment Entrant Scheme.
      
     "All these exciting new progresses have added to Hong Kong's appeal as a leading asset and wealth management hub," she added.
      
     Ms Ho remarked that the city's underlying strength lies in its robust common law system and a clear and certain financial regulatory system which aligns perfectly with global standards, all thanks the long standing implementation of the "one country, two systems" principle.
      
     During the interactive panel discussion, the Director and Head of Policy Research of Hong Kong's Financial Services Development Council, Dr Rocky Tung, gave an in-depth update on the asset and wealth management industry, as well as private wealth management and family offices landscape in Hong Kong. He also spoke on the city's thriving ecosystem for global family offices and asset owners.
      
     Also joining the panel conversation were the Chief Representative of the Hong Kong Monetary Authority in New York, Mr Anson Law; the Senior Vice President of International Private Wealth Advisor of UBS, Mr Andrew Tse, and the International Director of Ernst & Young Global Desk, Ms Winona Zhao. The panel was moderated by renowned asset management marketing strategist Ms April Rudin.

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Speech by SJ at Mayer Brown’s 160th anniversary cocktail reception (English only) (with photo)

     Following is the speech by the Secretary for Justice, Mr Paul Lam, SC, at Mayer Brown's 160th anniversary cocktail reception today (October 19):
 
Mr Jon Van Gorp (Chair, Mayer Brown LLP), Mr Terence Tung (Senior Partner, Mayer Brown LLP), distinguished guests, ladies and gentlemen,
 
     It is my honour to speak on this special and important occasion in celebration of the 160th anniversary of Mayer Brown.
 
     Terence has just given us an excellent summary of the firm's 160 years' history in Hong Kong. The large turnout at this event, I was told that more than 400 guests present today, consisting of client representatives and friends from different sectors, is the best evidence of Mayer Brown’s success. I bet most, if not all, people in Hong Kong, whenever they hear the Chinese name "孖士打", they would immediately recognise and say that this is a very big and famous law firm with a long history in Hong Kong. Mayer Brown "孖士打" is indeed already a household name, in Chinese I would say "家傳戶曉".

     It is often said, which is true, that one of Hong Kong's strengths, and bedrocks of its success, is its rule of law based on our common law system. Such strength was the result of hard work by generations of judges and lawyers for over a century, I would say almost 200 years. Having regard to Mayer Brown's long-standing presence in Hong Kong, one would and could not doubt the firm’s incomparable contribution to the development of Hong Kong’s legal profession and its rule of law. 
 
     Mayer Brown's success is well renowned, which could be illustrated by the firm being named 11 years in a row as "Hong Kong Law Firm of the Year" by the Asian Legal Business. Mayer Brown's remarkable achievement, in my opinion, is attributable to its dual character, which is very rare among other law firms in Hong Kong – first, its long history and strong tie to Hong Kong; second, its international connections. With such dual character, Mayer Brown is in a unique position to bring betterment to Hong Kong.
 
     To maintain a thriving legal practice in Hong Kong, it is essential to keep abreast of the latest updates on the important national development plans of our country and grasp the historic opportunities offered by them.
 
     Vice Premier Ding Xuexiang at the 8th Hong Kong Belt & Road Summit held last month expressed the hope that Hong Kong shall gather professional services to leverage its wealth of talents; and in particular, the Central Government supports Hong Kong to speed up the establishment of an international legal service and dispute resolution centre. I just returned this morning from Beijing after attending the Third Belt and Road Forum for International Cooperation. I spoke in two different sessions to promote Hong Kong’s rule of law and legal services.
 
     I am very pleased that Mayer Brown has been extremely supportive of the Hong Kong Government's efforts in this respect. I wish to name a few recent examples, first, Hannah Ha (Asia Chair, Mayer Brown) joined me in a trip to Beijing in August this year and spoke in a seminar for state-owned enterprises and private enterprises on legal compliance and risk management issues against the latest international landscape. In a trip to Hainan last month, my deputy DSJ (Deputy Secretary for Justice), Horace Cheung, was joined by Mr Tom Fu (Partner, Mayer Brown), who shared his experiences in capacity building with our Hainan counterparts. I would like to take this opportunity to express our gratitude to Mayer Brown’s unfailing support to our various initiatives over the years.
 
     Admittedly, Hong Kong law firms, particularly international law firms, have been facing various challenges in recent years. First, the economy, whether at the local, national or global level, is not at its most promising phase at the moment. Second, and perhaps more importantly, the volatile geopolitics has created unprecedented issues. It is indeed critical to navigate through these uncharted waters very carefully with a high degree of sensitivity.
 
     I would venture to suggest that, very often, it will be useful to remind ourselves of a few fundamental principles which can be found in The Hong Kong Solicitors' Guide to Professional Conduct. A solicitor, unlike a barrister, is not subject to the cab-rank principle; and is therefore generally free to decide whether to accept instructions from any prospective client. That said, a solicitor should not refuse to accept instructions based upon race, ethnic or national origins, or political beliefs of a prospective client. Once instructions are accepted, a solicitor must of course provide its best possible service in the best interests of his client. Lastly, subject to any express term of the retainer agreement, a solicitor must not terminate his retainer with his client except for good reason and upon reasonable notice, or with the client's consent. These basic principles are essential to maintain the independence of the legal profession, which is in turn an essential element of the rule of law. I trust and hope that Mayer Brown can and will take the lead and set a prime example for fellow solicitors in Hong Kong.
 
     Amid all challenges over the years, Mayer Brown's ability to maintain its reputable presence in Hong Kong has special relevance to me on a personal level. After obtaining my law degree from the University of Hong Kong about 30 years ago, I was once offered a trainee contract by JSM (Johnson Stokes & Master) back then, and was in fact the only offer that I received. Given your firm's reputation and perhaps more importantly the very attractive salary, I was very much tempted and had to think very hard whether I should accept the offer and become a solicitor or, alternatively, join the Bar. At the end, I decided on the latter, and the rest is history. Frankly speaking, it was a very close call that I could have been one of your colleagues. I am a big fan of Dr Strange, a famous character in Marvel Movies; and I am very obsessed with the ideas of multiverse and parallel universe. Had there been a parallel universe, I would and could have been among you guys, holding a glass of champagne, and listening to a more inspiring speech given by a much better-looking SJ. Unfortunately, Dr Strange is a fiction; and so, you are stuck with me.
 
     Back to this universe, although I did not join JSM, I had received an invaluable consolation prize from your firm. After I joined the Bar, I was very lucky to have the chance of working with JSM, or later Mayer Brown, until I joined the Government last year. In particular, I worked very closely with your Healthcare team, which I dare say is the best one in Hong Kong, on many medical-legal cases. I have made many good friends in the team, like Woody Chang (Partner, Mayer Brown), Jaime Lam (Partner, Mayer Brown), William Chan (Partner, Mayer Brown), Sally Wong (Senior Associate, Mayer Brown), and Warren Seto (Senior Associate, Mayer Brown), and we still maintain contacts. I am also very grateful to friends in other departments, like Geoffrey Chan (Partner, Mayer Brown), Tom Fu, and, of course, Terence Tung, for their support provided to me, no matter during my private practice or my public service.
 
     Ladies and gentlemen, I hope I am able to convince you by now that, out of personal reasons and reasons due to my present capacity, I would very much like to see that Mayer Brown may continue its success and contribute even more to the rule of law in Hong Kong and our country China in future. On this note, I would like to congratulate Mayer Brown once again on this 160th anniversary. I wish Mayer Brown and all of you all the best! Thank you.

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