Financial Markets in Hong Kong (2nd edition)

ISBN : 9780198706472

Douglas Arner; Berry Hsu; Syren Johnstone; Say H. Goo; Paul Lejot
672 Pages
171 x 246 mm
Pub date
Mar 2016
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Since the publication of the first edition in 2006, financial regulation around the world has changed dramatically as a result of the 2008 global financial crisis. As one of the world's leading financial centres, international regulatory reforms have had a significant impact on the legal and regulatory system in Hong Kong. This new second edition provides a comprehensive and authoritative single-volume guide to the main areas of financial regulation and financial law in Hong Kong. Given the massive changes in financial regulation globally and in Hong Kong, the second edition has been substantially rewritten and revised to address changes in 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, 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 (IIA). 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.


I. Finance in Hong Kong
1 Hong Kong's Financial Markets: Evolution and Overview
2 Financial Regulatory Structure
3 Banking Regulation and the Hong Kong Monetary Authority

II. Regulation of Banking, Securities and Insurance
4 Securities Regulation: The Securities and Futures Commission and Hong Kong Exchanges and Clearing Limited
5 Insurance Regulation and the Insurance Authority

III. Regulation of Financial Products
6 Securities Offerings
7 Asset Management and Investment Products
8 Financial Derivatives
9 Takeovers and Mergers

IV. Financial Market Conduct and Misconduct
10 Corporate Governance
11 Market Integrity

V. The International Dimension
12 The China Nexus
13 Hong Kong's Future as a Leading International Financial Centre

About the author: 

Douglas W. Arner is Professor of Law at the University of Hong Kong and Co-Director of the Duke-HKU Asia-America Institute in Transnational Law. ; Berry F.C. Hsu is a Professor in the Department of Real Estate & Construction, and Deputy Director of the Asian Institute of International Financial Law at the University of Hong Kong. ; Say H Goo is Professor of Law at HKU, Founding and former Director of Asian Institute of International Financial Law (AIIFL) and Deputy Director of Ronald Coase Centre for Property Rights Research (RCCPRR). ; Syren Johnstone is Adjunct Associate Professor of Law at University of Hong Kong and Fellow of the Asian Institute of International Financial Law. ; Paul Lejot is a Visiting Fellow in the Asian Institute of International Financial Law at the University of Hong Kong.

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