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In Asia-Pacific

Hong Kong: Challenges to the Stock Exchange’s findings of insufficient level of operations and assets continue to be an uphill battle in court – The Court of Appeal again upholds the Stock Exchange’s decision to suspend trading in the issuer’s shares pursuant to the equivalent of Rule 13.24 under the GEM Listing Rules

by , , and 5 Mins Read

There has been a rise in cases in which The Stock Exchange of Hong Kong Limited suspends trading in issuers’ shares because they have failed to comply with Rule 13.24 of the Main Board Listing Rules. Rule 13.24 requires an issuer to maintain a sufficient level of operations and assets of sufficient value to support its operations to warrant the continued listing of the issuer’s securities. The Court of Appeal in China Trends Holdings Limited v The Stock Exchange of Hong Kong Limited [2021] HKCA 980 again upheld the Stock Exchange’s decision to suspend trading in an issuer’s shares pursuant to the equivalent of Rule 13.24 under the GEM Listing Rules. The Court of Appeal highlighted the court’s reluctance to interfere with the market regulators’ application of Rule 13.24 and clarified the application of this rule.

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In Uncategorized

Africa: AfCFTA is now operational – What to expect in the first few months

by 6 Mins Read

The African Continental Free Trade Area (AfCFTA) is one of the largest trading blocs in the world with the majority of African countries now operating under its preferential trade framework. Pomy Ketema, Counsel at Baker McKenzie in New York, discusses the agreement’s latest developments, and how businesses in Africa can benefit from AfCFTA, noting that the profitability of any endeavor depends on many factors, commercial and otherwise.

In Anti-Corruption

Argentina: Legal guide to public contracting in light of the COVID-19 pandemic

by , and 5 Mins Read

The current climate surrounding the COVID-19 crisis requires a significant level of flexibility in contractual relationships to provide flexibility regarding public procurement regulations for directly purchasing procedures for goods and services. Guidelines for directly executing contracts and a range of options available to contracting authorities.

In Covid-19

Italy: Extraordinary measures to minimize the impact of COVID-19 on tax litigation activities

by and 18 Mins Read

The first package of tax measures for supporting the Italian economy in the context of the COVID-19 outbreak has finally been approved. Indeed, Law Decree No. 18 17 March 2020 (“Cura Italia Decree”) was converted into Law No. 27 on 29 April 2020, with some amendments with respect to the prior version, which are highlighted in ‘bold.’

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In Europe

UK: Prudential Regulation – How the UK FCA Assesses Adequate Financial Resources

by 14 Mins Read

The Financial Conduct Authority’s (FCA) consultation on its approach to assessing the adequacy of financial resources for all 46,000 FCA solo-regulated firms closed on 13 September 2019. This initiative complements its Approach to Supervision document, most recently updated in April 2019. In comparison to the “hard requirements” contained in its…

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In Uncategorized

Singapore: PDPC Refreshes Guide on Managing Data Breaches in Anticipation of a Proposed Mandatory Breach Notification Requirement

by , and 4 Mins Read

On 22 May 2019, the Personal Data Protection Commission (“PDPC”) launched a guide titled “Guide to Managing Data Breaches 2.0” (the “Guide”) that refreshes an earlier guide on the topic that was published in 2015. The refreshed Guide retains some of the best practices for managing data breaches in the earlier guide and…

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