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To explain the Securities anld Futures Commission of Hong Kong’s new FAQs on external electronic data storage.

The article analyses the existing legal and regulatory requirements relating to the keeping of records as well as the circular and FAQs on the use of external electronic data storage. It also discusses the practical implications of the newly added FAQs.

The SFC has relaxed the requirement as regards the appointment of two Managers-In-Charge in Hong Kong for the purposes of the circular on the use of external electronic data storage. The SFC has offered more flexibility with respect to the undertaking by electronic data storage providers in the FAQs. The FAQs have also provided more certainty with respect to the approval requirements pursuant to section 130 of the SFO where non-Hong Kong affiliates are concerned.

The additional guidance from the SFC regarding external electronic data storage in the form of the new FAQs shows a helpful clarification in the SFC’s approach on the practical implementation of the relevant requirements under the circular on the use of external electronic data storage.

The article offers practical guidance in respect of the implications of the newly added FAQs on the external electronic data storage regime from experienced financial services and asset management lawyers.

In order to test effects of motives, communication style and licensing on the reputations of sponsors of public relations, a 4 × 2 × 2 factorial design experiment was conducted by the author with 585 non‐student adults and undergraduate university students in the USA. Perceived motives to impression manage had a strong effect on results, with prosocial or mixed and selfish motives seen as a ‘hustle’ on the part of corporate sponsors. Mixed support was found for licensing as a means of enhancing the reputation of public relations. Communication style — ‘symmetric’ versus ‘persuasive’ — had no effect on results. Impression management theory suggests that perceived motives and self‐interests may explain the poor reputation sometimes attributed to public relations and its clients or sponsors.

To provide an overview of the Hong Kong regulatory regime for crypto-related investment products.

Describes the existing regulatory regime in Hong Kong for crypto-related investment products prior to November 2018 and, following circulars issued by the Hong Kong Securities and Futures Commission (SFC) in November 2018, regulatory standards relating to virtual asset portfolio managers and fund distributors and a conceptual framework for potential regulation of virtual asset trading platform operators. Discusses the implications of the regulatory standards and conceptual framework.

The regulatory standards have aligned the requirements relating to crypto-related securities and futures contracts with those for crypto-related assets that do not fall within such definitions. The opt-in approach under the conceptual framework demonstrates that the SFC is actively trying to learn about the operations of platform operators and develop appropriate regulations accordingly.

Practical guidance from experienced lawyer with expertise in fund formation, fund investments and retail fund registration

We know little of the earliest origins of Billingsgate — we can only conjecture that at some point in or near the City there must have been from the earliest stage wharves for the off‐loading of fish, and a market place for their sale. So it is not surprising that it is uncertain as to what date can be “fixed” for the foundation of Billingsgate. It seems pointless to try to base any such date on the name itself. What does it profit to theorise whether Billingsgate was the water gate of Billing, or whether the name derives from an ancient king Bellin, or whether it descends from the Saxon customs place of Blynesgate?

Discusses the effect of a decentralized approach to research and development facility location in the multinational corporation. Presents the comparative advantages of locating R&D facilities in strategic locations around the world. Examines the commitment required by a corporation to have an effective and flexible international research organization. Suggests that, if a company wants truly to be a “player” in the international marketplace, one that is able to compete on both product quality and cost, a decentralized structure which allows for the establishment of autonomous R&D entities is necessary. Substantial risks are involved. Presents research and actual company histories to suggest that these risks could be offset with benefits from the strategic placement of research and development centres on a worldwide basis.