Category: Updates & Publications (vivienteu&collp)

Access to China Interbank Bond Market for Hong Kong Retail Funds

Up until mid-February 2016, foreign institutional investors accessing China onshore bonds through the China Interbank Bond Market (CIBM) would do so via the RQFII/ QFII regime, which is subject to specific restrictions and compliance requirements specifically on investment quota and repatriation.  Access to CIBM was otherwise limited to foreign central banks or monetary authorities, RMB settlement […]

SFC Formally Adopts Revamped Fund Authorization Process and Extends to MRF

Last Friday, 22 April 2016, the Hong Kong Securities & Futures Commission (SFC) announced that the revamped fund application and authorization process (“Revamped Process”) shall be formally adopted and become SFC policy effective from 9 May 2016.  The Revamped Process will now also be extended to the applications from Mainland funds seeking authorization under the Mainland-Hong Kong mutual […]

New Hong Kong Competition Ordinance – Points for Financial Services Industry

The Hong Kong Competition Ordinance (the “Ordinance”) came into full effect in Hong Kong on 14 December 2015.  The Ordinance which covers the whole economy of Hong Kong was first introduced into the Legislative Council in 2010 and was subsequently passed on 14 June 2012.  The full force of the Ordinance was not brought into […]

New Changes to Hong Kong Professional Investors Regime Now Effective

Significant changes to the professional investors regime in Hong Kong are now effective, from 25 March 2016.  This reform to the professional investor regime is brought about 18 months after the Hong Kong Securities and Futures Commission (the “SFC”) published its “Consultation Conclusions on the Proposed Amendments to the Professional Investor Regime” and “Further Consultation on the […]

New SFC Requirement – Contractual Obligation on Suitability

On 8 December 2015, the Securities and Futures Commission (“SFC”) of Hong Kong published its “Consultation Conclusions on the Client Agreement Requirements” (“Consultation Conclusions”), requiring licensed financial intermediaries to include a new clause in their client agreements on the suitability of investment recommendations and solicitations. The required new clause reads: “If we [the intermediary] solicit […]

Mutual Recognition – South-bound Requirements

On 22 May 2015, the Hong Kong Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) entered into a Memorandum of Regulatory Cooperation on Mainland-Hong Kong Mutual Recognition of Funds, and the SFC issued the Circular on Mutual Recognition of Funds between the Mainland and Hong Kong (“Circular on Mutual Recognition of Funds”) […]

Mutual Recognition – CSRC Requirements on Hong Kong Funds

The CSRC has issued a Q&A on 22 May 2015 in connection with the Mutual Recognition of Funds initiative, explaining the scheme and mentions the requirements for Hong Kong funds to be eligible for approval by CSRC for retail distribution in Mainland China. Besides a basic premise that the funds are established and operating under […]

Funds Mutual Recognition Initiative Jointly Announced by CSRC and SFC

It’s been brewing for a while, but it may still come as a surprise to some that today the securities and funds regulators in China and Hong Kong have jointly announced the implementation of a mutual recognition initiative for funds regulated in the respective jurisdictions. Referred to as the “Mainland-Hong Kong Mutual Recognition of Funds” (MRF) initiative, the […]

Vivien Teu is Founder & Principal of Vivien Teu Law Practice / VTLP Impact.  With more than 25 years in-depth experiences in capital markets, financial institutions and asset management industry, financial services, financial and securities regulatory matters, funds formation, investment and finance transactions, Vivien is market leading in her focus on ESG legal and regulatory issues, increasingly integrated into her advisory and transactional practice. She has been active in impact ecosystem building, contributing to standard setting and industry engagements on sustainability, ESG and impact issues and sustainable finance, specifically in the investment and capital markets, holistically covering regulatory, legal and policy perspectives, and advises across the spectrum of capital, ESG issues and asset classes, public and private markets, for-profit, non-profit organisations or hybrid structures, and range of fund structures and financing instruments.

Prior to establishing Vivien Teu Law Practice / VTLP Impact, Vivien has solid industry experience from strategic roles throughout her career, including senior in-house legal experience with global asset management firm, Invesco, and practised with leading international funds and regulatory practice including magic circle law firm Clifford Chance, and most recently with global law firm Dentons, where Vivien assumed key roles as sustainable finance lead on the Global ESG Steering Committee, Global Funds Leaders Group and Global Financial Institutions Practice Group, driving impact focus within mainstream finance and capital markets.  Vivien’s leadership in sustainable finance, global funds and industry engagement is matched with her commitment to community and ecosystem building. 

With the vision of the role of law in purposeful partnerships and projects, to align capital with sustainability and increasing focus on measurable positive environmental and social outcomes, Vivien’s experiences include advising asset owners, asset managers and also charitable foundations in establishing purpose-led initiatives, related stewardship and governance considerations and structure design, B Lab’s legal requirements and certification standards for B Corps, green and sustainable finance frameworks and instruments, legal issues of carbon markets and climate transition, climate mitigation and adaptation strategies and funds, nature-based solutions and finance, impact term-sheets and other innovative finance instruments for impact, advocacy efforts as well as engaging in market proposals for policy, legal and regulatory levers for advancing sustainability and impact.   

 

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