We set out in this article the background to, and the expected effects of, the US CHIPS Act aimed at boosting domestic US research and manufacturing capacity in relation to semiconductors, and its effect in China Mainland and potentially Hong Kong SAR. If you have any questions or feedback, please get in touch.

The Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 (“Bill”) has been passed by the Legislative Council on 7 December 2022. The passage of the bill brings into law changes to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”) to give effect to Hong Kong’s new virtual asset licensing regime (“VASP Licensing Regime”). We previously detailed what changes were proposed to the AMLO under draft law and how the VASP Licensing Regime would work in our extensive alert, Lift off: A close look at Hong Kong's virtual asset exchange licensing regime and the IOSCO crypto roadmap. In this alert, we provide a summary of the key changes that have been made to the draft Bill in the now confirmed AMLO amendments and procedural timeline for those changes to come into effect.

We set out in this article some key issues to which banks and corporates need to pay attention in the final stage of London Interbank Offered Rate (LIBOR) transition in the Hong Kong SAR and mainland PRC lending market. If you have any questions or feedback, please get in touch.