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Hong Kong Stock Exchange introduces IPO "double dipping" exemption Hong Kong Stock Exchange introduces IPO "double dipping" exemption Summary The Stock Exchange of Hong Kong Limited (the Exchange) published a revised Guidance Letter HKEX-GL85-16 (the Revised Guidance) introducing an exemption to permit existing shareho... A new age dawns for consumer protection in the UK The Digital Markets, Competition and Consumers Act 2024 (DMCC Act) came into force on 6 April 2025, overhauling the UK’s consumer protection regime.  The CMA has heralded this as a “step-change in more direct, impactful consumer protection” as, for t... Lower bar for merger scrutiny? First below-threshold deal cleared with conditions in China In September, details emerged of a transaction in the Chinese pharmaceutical sector, whereby a below-threshold acquisition underwent an extensive review process involving the Chinese competition authority’s “stop-the-clock” powers. The review resulted in ... SFC Amends the Hong Kong Codes on Takeovers and Share Buy-backs On 29 September 2023, the amendments to the Codes on Takeovers and Mergers and Share Buy-backs (the Codes) took effect. This follows the consultation made by the Hong Kong Securities and Futures Commission (SFC) on proposed changes to the Codes, all of wh... Future regulation of alternative fund managers: towards a more proportionate regime The UK’s asset management sector has been a core part of the City’s success; second only in size to the United States, it is able to draw from deep pools not only of capital but of talent. Alternative investment fund managers (“AIFMs”) have a prominent ro... Practical considerations in respect of CMI and OC Appointment and Fee Arrangement in bookbuilding and placing activities in ECM transactions The new conduct requirements for bookbuilding and placing activities in both equity capital market (ECM) and debt capital market (DCM) transactions in Hong Kong under the Code of Conduct for Persons Licensed by or Registered with the Securities and Future... Taking cases closer to home - The 7th year of antitrust enforcement in Hong Kong The Hong Kong Competition Commission (Commission) started its 7th enforcement year with an announcement on its enforcement priorities aimed at bringing the greatest overall benefit to competition and consumers in Hong Kong. In this briefing, we take a loo... New Regulatory Requirements for Virtual Asset Trading Platform Operators come into effect This briefing highlights the main features of the licensing regimes, the key requirements under the VATP Guidelines, details on the transitional arrangement, as well as practical steps for VATP operators.   INTRODUCTION The Securities and Futures C... New EU Foreign Subsidies Regulation: Implications for Foreign Investments from Asia This briefing discusses the key features of the FSR regime primarily in the M&A context and identifies practical issues and steps for affected companies. It remains unclear how certain areas of the FSR will be interpreted and applied but, given the br... EU adopts Foreign Subsidies Implementing Regulation EU adopts foreign subsidies Implementing Regulation Foreign Subsidies Implementing Regulation adopted – with (some) relaxation of the administrative burden On 10 July 2023, the European Commission (EC) adopted the final text of the legislation impleme...