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Market Existential | Charltons

Charltons

Julia Charlton and various invited guests speak about investment opportunities in many countries, and in China and Hong Kong in particular. Podcast offers you information about history of economics science and up-to-date changes in law system. Our podcast is divided in two categories: Legally Speaking and Market Debate. Under the 'Legally speaking' category we publish speakers performance on one subject and under the 'Market debate' we publish conversations with our guests.

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  • 20 episodes
  • Avg 1 hr 6 min
  • English

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  • S5 · E7
    May 29 · 52 min

    Sponsor Work and HKEX Consultation on Listing Reforms

    In-depth analysis of SFC and HKEX responses to 2025 IPO boom quality issues: record 516 applications received, 119 listings raising HK$285.8 billion, yet deficiencies in documents, overstretched sponsors, unqualified staff, and 16 suspensions prompted joint letter to 13 sponsors in Dec 2025. SFC Circular 30 Jan 2026 details five concerns—serious document deficiencies and process-driven approaches, over-reliance on experts, insufficient principal capacity with new bright-line cap of five active engagements per Principal, unqualified principal appointments, and staff incompetence. Imposes immediate reporting obligations by 6/13 Feb 2026, enhanced HKSI LE Papers 1 and 16 exams with strict transitional rules and prohibitions, mandatory internal reviews and rectification plans by 30 Apr 2026 for Concerned HK Sponsors and Strained Principals, on-site thematic inspections, enforcement actions including licence restrictions, and 300-page document guidance. HKEX Consultation 13 Mar 2026 proposes WVR threshold halving (Test A to HK$20B, Test B to HK$6B), confidential filing for all applicants with PHIP-only OC announcement, and strengthened return mechanism publicly naming and shaming all professional parties (sponsors, legal advisers, reporting accountants, auditors, industry consultants, experts). Key statistics from 2025 Listing Committee Report on vetting pressures, enforcement (104 cases, 29 actions), and competitive context. Practical implications for sponsors, advisers, and applicants navigating elevated standards and reforms. #HongKongIPOs #SFCSponsorCircular #HKEXListingReforms Timecodes: 0:00 Introduction & Opening Remarks 5:02 Regional Context & Market Overview 10:04 Listing Application Quality Concerns 15:00 Regulatory Actions & Returned Applications 20:05 Equity Capital Markets Activity 25:01 Key Consultation Topics Overview 30:01 Listing Eligibility & Requirements 35:00 Role of Professional Parties 40:02 Resource Burden & Review Process 45:00 Consequences of Returned Applications 50:02 Implementation Timeline & Deadlines Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S5 · E6
    May 13 · 1 hr 3 min

    Listing Biotech Companies on the HKEX

    In this comprehensive session, we explore the Chapter 18A regime introduced in 2018 that allows pre-revenue biotech companies to list on the Main Board without meeting the usual profit or revenue tests. The presentation covers the rapid growth of China’s biotech sector, the evolution of the HKEX biotech listing framework, detailed eligibility and suitability criteria (including Core Product requirements, sophisticated investor investment, minimum market capitalisation of HK$1.5 billion, enhanced working capital rules, and intellectual property ownership), listing document disclosure obligations, and the additional continuing obligations that apply post-listing. Recent developments such as the TECH consultation channel, confidential filing option, inclusion in Stock Connect, and updates to public float requirements are also discussed. Whether you are a biotech company considering an HKEX listing, an investor evaluating Chapter 18A stocks, or a legal professional advising on biotech IPOs, this webinar provides practical guidance and the latest regulatory insights from one of Hong Kong’s most experienced IPO lawyers. Watch the full recording to understand exactly what it takes for a pre-revenue biotech company to successfully list in Hong Kong today. #HKEX #BiotechListing #Chapter18A #PreRevenueBiotech #HongKongIPO #BiotechIPO #HKStockExchange Timecodes: 0:00 China’s Biotech Boom and Capital Markets Context 2:00 HKEX Chapter 18A — Why and How It Started 3:33 Market Impact and Stock Connect Inclusion 5:10 TECH Channel and Confidential Filing Reforms 7:02 Eligibility Framework and Scope of Chapter 18A 8:45 Defining Biotech and Core Product Suitability 10:29 Clinical and Regulatory Milestones — Drugs and Devices 13:37 Accepting Non-Competent Authority Trials — A Case Study 19:06 R&D Focus, Use of Proceeds, and IP Ownership 23:36 Sophisticated Investors and “Meaningful” Investment 25:34 Key 18A Eligibility: Market Capitalisation, Track Record, and Working Capital 29:02 Public Float — Initial and Ongoing Requirements 32:17 Existing Shareholders’ IPO Participation 35:26 Retail Allocation and Practice Note 18 37:21 Listing Document — Reduced Track Record and Core Disclosures 40:42 Disclosure Standards — Clarity, Balance, and Investor Protection 44:10 Summary, Risk Factors, and Industry Overview Requirements 47:38 Competitive Landscape and History & Development 49:24 Business Model, Clinical Data, and Licensing Terms 54:31 Commercialisation, Manufacturing, ESG, and IP Safeguards 56:24 Financial Information — Revenue, Burn Rate, and Funding Outlook 57:59 Continuing Obligations, Transactions, and Identification 59:47 Fundamental Change Restrictions and Delisting Framework 1:01:25 Transition Out of 18A Constraints and Closing Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S5 · E5
    April 29 · 1 hr 8 min

    Overview of HK Stablecoin Regulation: Part 2

    Part 2: Hong Kong Stablecoin Regulation webinar presented by Julia Charlton. In this comprehensive session, Julia explores the Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) obligations for HKMA-licensed stablecoin issuers, including the requirements for Travel Rule compliance, customer due diligence, wallet risk management, ongoing monitoring, sanctions screening, and suspicious transaction reporting. The webinar further details the licensing application process, restrictions on offering specified stablecoins to the Hong Kong public, and the various offences under the Stablecoins Ordinance. This recording is essential viewing for fintech companies, virtual asset service providers, banks, and legal professionals in Hong Kong. #HongKongStablecoin #StablecoinRegulation #HKMA #AMLCFT #TravelRule #StablecoinLicence #CryptoCompliance #HongKongFintech Timecodes: 0:00 Introduction & AML/CFT Overview 4:25 Customer Due Diligence 14:44 Wallet Risk Management 18:48 Ongoing Monitoring 24:42 Travel Rule Compliance 41:24 Sanctions & Screening 45:10 Suspicious Transaction Reporting 49:39 Record Keeping 53:51 Licensing Application Process 57:12 Offering Restrictions & Offences 1:08:11 Conclusion Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S5 · E4
    April 28 · 59 min

    Overview of HK Stablecoin Regulation Part 1

    The session offers a detailed analysis of the Hong Kong Monetary Authority’s licensing framework applicable to Specified Stablecoins (fiat-referenced stablecoins). Topics addressed include the scope of regulated activities, eligibility criteria for licence applicants, incorporation requirements, HK$25 million minimum paid-up share capital requirement, fit-and-proper standards for controllers, directors and managers, and the requirement for stablecoins to be fully backed by high-quality, liquid assets. Additional subjects covered encompass segregation and custody of reserve assets, holders’ redemption rights, white paper disclosure obligations, risk management policies, governance structures, technology and operational controls, complaints handling procedures, incident management, business continuity planning, and orderly wind-down arrangements. The webinar further addresses continuing obligations, regulatory reporting to the HKMA, and offences under the Ordinance. #HongKongStablecoinRegulation #HKMAStablecoinLicence #SpecifiedStablecoins #StablecoinsOrdinance #HKMAStablecoin #HongKongFintech #VirtualAssetsHK #CharltonsLaw #CPDWebinar #StablecoinIssuer #FiatReferencedStablecoin Timecodes: 00:00 Introduction and Welcome 00:33 Agenda for Today's Webinar 01:15 Background & Foundation of the Regime 03:20 Definition of Specified Stablecoin 04:20 Exclusions from Regulation 05:10 Licensing Requirement 06:28 Offences for Unlicensed Activities 08:00 Eligibility Criteria 09:51 Financial Resources 11:14 Fit and Proper Standards 17:11 Full Reserve Asset Backing 26:35 Redemption Rights 29:09 Issuance Mechanism 30:55 Third Party Arrangements 36:20 Risk Management Framework 43:28 Technology & Operational Controls 49:11 White Paper & Disclosure Obligations 59:30 Conclusion Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S5 · E3
    April 27 · 1 hr 38 min

    Insider Dealing Under Hong Kong Law

    Comprehensive review of the SFO insider dealing regime, including offence elements, defences, enforcement powers, notable cases, proposed extraterritorial expansions, and the SFC’s Market Sounding Guidelines (effective 2 May 2025). #InsiderDealingHK #SFOHongKong #SFCMisconduct Timecodes: 00:00 Overview of Insider Dealing Regime 00:01:50 Enforcement & Classic Insider Trading 00:03:49 Takeover Context & Dawn Raids 00:04:58 Tipping & Overseas Extension 00:09:43 Mens Rea & Securities Definitions 00:13:10 Overseas Shares & Section 300 00:16:24 Extraterritorial Expansion & Connected Persons 00:19:42 Related Corporations & Inside Information 00:23:12 Generally Known & Materiality Tests 00:28:27 Dealings & Core Defences 00:31:43 Additional Defences & Safe Harbours 00:36:21 Innocent Purpose (Yiu Hoi Ying) 00:41:20 Civil Regime & MMT Powers 00:45:00 Inquisitorial Nature (Cheung Chak Nok) 00:50:13 MMT Sanctions 00:53:35 Circumstantial Proof Cases 00:58:52 Criminal Liability & Rights 01:02:11 Officers’ Duties 01:05:21 Section 203 & Tiger Asia 01:08:43 Doo Jun & Retech Cases 01:12:27 Additional Cases & Sentencing 01:19:35 Restriction Notices 01:25:04 Proposed Amendments Scope 01:31:38 Expansion Features & Mens Rea 01:36:31 Market Sounding Guidelines Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S5 · E2
    February 6 · 56 min

    Mineral Companies Listing on HKEX

    Comprehensive analysis of Chapter 18 Main Board Listing Rules for mineral and petroleum companies, covering eligibility criteria, waivers from financial tests, resource portfolio and rights requirements, Competent Person’s Reports, accepted reporting standards, disclosure obligations, and continuing obligations for listed issuers. #MineralCompaniesHKEX #HKEXChapter18 #MiningListing Timecodes: 00:00 Overview & Context 01:43 Guidance & Definition 05:00 Transaction Classifications 06:37 Core Eligibility 10:17 Exemption from Financial Tests 13:22 Case Example & Management Experience 16:37 GEM Differences & Disclosures 20:11 Rights, Risks, ESG 23:11 Financial Sensitivity & CPR 26:31 CPR Scope & Waivers 31:17 Competent Person Qualifications 36:11 Report Currency & Dispensations 39:25 Accepted Standards 42:45 Resource Substantiation 46:25 Petroleum Disclosures & NPV 51:33 Continuing Obligations 53:13 Transactional Rules Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S5 · E1
    January 2 · 1 hr 7 min

    Treasury Shares and Company Re-Domiciliation

    In-depth analysis of the Treasury Shares regime for issuers listed on The Stock Exchange of Hong Kong Limited, including Listing Rule requirements, Companies Ordinance amendments effective 17 April 2025, and practical compliance considerations such as segregation in CCASS, resale mandates, and disclosure obligations. The session also examines the inward Company Re-domiciliation regime effective May 2025, detailing eligibility, application process administered by the Companies Registry, legal continuity, and taxation treatment. #TreasurySharesHK #CompanyRedomiciliation #HKEXListingRules Timecodes: 00:00 Introduction & Agenda 00:01:32 Legacy Rules & Rationale 00:03:08 Companies Ordinance Amendments 00:04:40 Treasury Shares Definition & Holding 00:06:12 Rights Suspension & Segregation 00:07:48 CCASS Mechanics by Jurisdiction 00:10:51 Repurchases & Resale Mandates 00:12:30 General Mandate Limits & Pricing 00:14:18 PRC A/H Share Rules 00:15:28 Connected Transactions & Share Schemes 00:16:56 Dealing Restrictions & Blackouts 00:20:12 New Listings Lock-ups 00:21:36 Mandate Documentation & Disclosures 00:23:19 Treasury Resale Reporting 00:24:44 Voting, Float & Codes Treatment 00:27:55 Part XV Disclosure of Interests 00:29:26 Companies Ordinance Treasury Regime 00:31:13 Membership & Rights Suspension 00:32:40 Bonus Shares & Capital Effects 00:34:01 Statutory Filings & Stamp Duty 00:37:14 Background to Redomiciliation 00:40:26 Legal Identity Continuity 00:42:05 Scope & Eligible Types 00:43:38 Eligibility Criteria 00:45:16 Solvency & Protections 00:47:18 Application Form Essentials 00:48:28 Foundational Documents 00:50:07 Foreign Law Legal Opinion 00:53:09 Financials & Board Certificate 00:54:46 Process & Approval 00:56:25 Post-Redomicile Filings 00:59:44 Debentures Obligations 01:01:20 Taxation & Stamp Duty 01:02:53 Transition & Records 01:04:29 Sectoral Regulators 01:06:06 Closing Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S4 · E8
    Nov 25, 2025 · 1 hr 31 min

    UK-Focused Crypto Litigation & Investigations

    Relive Legalink's Fintech Group webinar on UK-focused crypto litigation and investigations, moderated by Julia Charlton of Charlton's Law in Hong Kong. David Bowman, Legal Director at Weightmans, examines the legal status of crypto assets under English law, landmark cases from AA v Persons Unknown to recent fraud recoveries, and forthcoming regulatory developments including stablecoin frameworks and ETNs in 2026. Steve Sandford, Partner at CyXcel, covers practical tracing of illicit transactions, blockchain forensics, AI-enhanced investigations, and threats such as cross-chain crime and quantum computing. Discover expert insights into crypto property rights, jurisdictional challenges, asset recovery tactics, and global cooperation against ransomware and scams. Essential viewing for legal, compliance, and fintech professionals in the digital asset space. #CryptoLaw #UKFintech #DigitalAssets Timecodes: 0:00 Introduction & Global Crypto Context 6:04 Speaker Introductions 6:04 Crypto Assets Defined & Market Facts 10:16 Key Terminology Explained 13:44 UK Legal Foundations 18:58 Law Commission & Digital Assets Bill 20:47 Landmark Crypto Cases 36:25 Enforcement & Regulatory Roadmap 40:08 Investigations Landscape 45:57 Cross-Chain Obfuscation 50:01 Core Tracing Methods & OSINT 56:00 AI Tools & DeFi Challenges 1:02:03 Emerging Threats (Quantum, Privacy) 1:07:15 Recovery Strategies & Case Studies 1:09:49 Q&A: International Cooperation 1:13:34 UK Regulation Pace 1:18:00 Blockchain Traceability & AI 1:25:10 Developer Duties & DAOs 1:30:09 Stablecoin Peg Compliance 1:27:38 Closing Outlook Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S4 · E7
    Nov 21, 2025 · 51 min

    HKEX Listing Rule Changes Effective 4 Aug 2025 & Public Float Consultation

    This webinar recording provides an overview of the Hong Kong Stock Exchange Listing Rule changes that took effect on 4 August 2025, including the introduction of the tiered initial public float thresholds and the new initial free float requirement. It also explains the key amendments to IPO share allocation and pricing mechanisms, and other consequential Hong Kong Stock Exchange Listing Rule updates. The session further discusses the Hong Kong Stock Exchange’s further consultation on the public float regime, including the proposed ongoing public float thresholds, disclosure requirements, and consequences of significant public float shortfalls. #HKEX #HKEXListingRules #PublicFloat #IPOAllocationReforms #HKEXConsultationPaper#HKEXOpenMarket Timecodes: 0:00 Context & Market Backdrop 1:42 Adopted Proposals 3:19 Tiered Float Thresholds 4:57 Scope & Instruments 6:49 Float Calculation Revisions 10:06 Overseas Listings & DRs 11:22 Revised “Public” Definition 13:00 Float Disclosure Rules 14:36 Minimum HK Listing Portion 16:07 New Free Float Requirement 19:19 Ongoing Float Proposals 22:29 H-Share Ongoing Rules 24:03 Transitional Arrangements 25:35 No Waivers & OTC 27:06 Disclosure Framework 31:50 Breach Handling 34:58 Shortfall Criteria 38:18 Enforcement Powers 39:55 Takeovers & Relief 41:28 IPO Allocation 43:08 Clawback Mechanisms 48:08 Other Amendments 49:53 Valuation & Notices Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S4 · E6
    Nov 20, 2025 · 1 hr 1 min

    Hong Kong Regulation of VATP Operators & Latest Updates

    This 22 September 2025 webinar describes Hong Kong's Virtual Asset Trading Platform (VATP) licensing regime under the Hong Kong Anti-Money Laundering Counter-Terrorist Financing Ordinance (AMLO) and Hong Kong Securities and Futures Ordinance (SFO). It outlines the scope of the regime, licence application requirements, and ongoing obligations including token reviews and AML compliance. 2025 updates to the regime include a streamlined application process, the ability to provide staking services subject to conditions, and more stringent custody protocols. #HongKongVATPLicensingRegime2025 #SFCVirtualAssetStakingAndCustodyUpdates #CryptoTradingPlatformComplianceObligations #SFC #HongKongVATPs #AMLO #SFO Timecodes: 0:00 Overview and Dual-Regime Framework 1:58 AMLO Licensing Scope and Active Marketing Prohibition 3:40 What Counts as a VATP and Service Scope Limits 5:22 Virtual Asset Definition and Exclusions 6:49 SFO Licensing Triggers and Offshore Marketing Ban 8:45 Regulatory Materials and Eligibility for Licensing 10:37 Financial Resources and Responsible Officers 12:05 Ownership, Fit-and-Proper Tests, and Manager-in-Charge 15:38 MIC Oversight, Premises Approval, and Record-Keeping 17:24 Streamlined Licensing and External Assessments 21:09 Licence Conditions, Reporting, and Service Changes 23:01 Token Admission Governance and Ongoing Monitoring 24:43 Due Diligence and Retail Token Admission Criteria 28:21 Retail Access Controls and Stablecoin Policy 30:01 Investor Segmentation and Qualified Corporate PIs 31:52 Product Restrictions and Prohibited Activities 33:40 Client Onboarding, Knowledge, and Suitability 37:07 Disclosures and Transparency Requirements 38:52 Custody Structure and Core Controls 42:21 August 2025 Custody Enhancements 44:24 Third-Party Wallet Oversight and Readiness 46:16 Compensation Arrangements and Coverage 48:04 AML/CFT Obligations and Travel Rule 50:04 Audit, Financial Reporting, and Approvals 51:36 Notifications and Regulatory Filings 53:32 Staking Services Conditions and Fund Participation 55:19 Continuous Professional Training Requirements 56:16 AMLO Offences for Non-Securities Virtual Assets 57:06 SFO Offences for Security Tokens and Offers 59:00 Disciplinary Powers and Court Remedies 1:00:16 Closing Remarks Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S4 · E5
    Nov 19, 2025 · 55 min

    Directors’ Duties and Liabilities and Listed Companies’ Disclosure Obligations

    This 19 September 2025 webinar describes directors' liabilities and disclosure duties for directors of Hong Kong Stock Exchange-listed companies. It outlines SFO and Companies Ordinance requirements, directors' fiduciary duties, and HKEX Listing Rules' requirements for announcements on dividends, appointments, and share issuances. Enforcement covers Market Misconduct Tribunal sanctions and HKEX powers such as trading halts. 2025 developments include Listing Rule changes and a public float consultation. Inside information criteria, safe harbors, and systems for compliance are described. #HKDirectors #HKEXListingRules #SFOCompliance #DirectorsDuties #HKEX #SFC #DirectorsTraining Timecodes: 0:00 Framework and Scope of Directors’ Responsibilities 1:41 Statutory, Regulatory, and Common Law Duties 3:22 Guidance Materials and Directors’ Core Obligations 5:06 Standards of Skill, Care, and Diligence 6:40 HKEX Disciplinary Powers and Sanctions 8:26 Public Float and Section 214 Disqualification 10:15 Director Contact Details and Announcement Basics 11:41 Timely Results and Corporate Changes Announcements 13:20 Director/CEO Appointment Disclosures and INED Requirements 15:08 Assessing INED Independence 16:45 Ongoing Independence Confirmation and Company Secretary Standards 19:50 Waivers, Compliance Advisers, and Senior Changes 21:18 Continuous Disclosure on Directors and Senior Management 22:58 Share Capital Changes and Next Day Disclosure 24:52 5% Threshold Events and Monthly Returns 28:00 Public Float, Pre-vetting, and Circulars 31:13 Financial Reporting and Distribution Timelines 33:03 Preliminary Results, Suspensions, and Audit Opinions 34:45 Board Governance and Voting Restrictions 36:08 Shareholder Protections and Dealing Codes 37:44 Inside Information: Definition and Disclosure Duty 39:20 Specificity, Public Knowledge, and Materiality 40:53 Timing, Escalation, and Holding Announcements 42:29 Safe Harbours and Confidentiality Preservation 44:22 Waivers, Officer Liability, and Systems of Control 45:46 Profit Warnings, Alerts, and Transaction Completion 49:14 Enforcement, Penalties, and MMT Orders 52:17 False Market, Enquiries, and Trading Halts 53:42 Trading Suspensions and Exchange Directions Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S4 · E4
    Nov 5, 2025 · 1 hr 37 min

    The Great U.S. Crypto Reset

    Moderated by Julia Charlton, co-chair of Legalink’s Fintech Group, the webinar discussed 2025 U.S. digital asset regulation shifts with speakers Jordan Yeagley (Buchanan, Ingersoll & Rooney) and Joe Basrawi (Carter Ledyard). Yeagley outlined the U.S. Department of Justice’s move from “regulation by prosecution” to rules-based guidance, targeting fraud and embezzlement in crypto while deprioritizing regulatory violations unless willful. The DOJ closed misaligned investigations and disbanded its cryptocurrency enforcement team. A Strategic Bitcoin Reserve was established by executive order, with states like New Hampshire following, though not yet statutory. The Clarity Act proposes classifying “digital commodities” separate from securities, shifting oversight from the SEC to the CFTC. Basrawi detailed the Genius Act (Senate) and Stable Act (House), offering a federal license for stablecoin issuers to bypass state patchwork. Smaller issuers (less than $10B) under the Genius Act can choose federal or state-certified rules; larger ones must follow federal regulations. Both require 1:1 U.S. dollar or Treasury reserves, allow non-bank issuers, and may create “synthetic banks.” The Stable Act bans stablecoin interest and enforces stricter state rules, while the Genius Act is more flexible, requiring legislative alignment. Stablecoins are excluded from securities classification under the Genius Act. The U.S. aims to lead global crypto policy, impacting markets trading with it. Interoperability and federal preemption remain unresolved, but stablecoins may soon transform institutional trade, with consumer adoption slower. #CryptoRegulation #StablecoinLegislation #USFintech Timecodes: 0:00 - Introduction & Webinar Overview 3:39 - DOJ’s New Crypto Enforcement Approach 15:16 - DOJ Policy in Action: Case Studies 18:26 - Strategic Bitcoin Reserves: National & State 21:32 - Clarity Act: Redefining Digital Assets 30:34 - US Crypto Reset: Genius & Stable Acts 39:46 - Stablecoins: Market Impact & Policy Goals 46:50 - Genius Act Deep Dive: Licensing & Reserves 57:21 - Compliance Challenges for Stablecoin Issuers 1:00:03 - Genius vs. Stable Act: State vs. Federal 1:08:47 - Q&A: Legislative Timelines & Politics 1:17:12 - Q&A: Stablecoins in Commerce & Banking 1:21:14 - Q&A: Global Impact & Regulatory Harmony 1:30:21 - Q&A: SEC vs. CFTC & Interoperability 1:35:51 - Conclusion & Future Outlook Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S4 · E3
    Apr 25, 2025 · 51 min

    Corporate Governance Code & Related Listing Rule Changes Effective 1 July 2025

    Julia Charlton discusses upcoming amendments to the Hong Kong Stock Exchange's Corporate Governance Code, set to take effect on July 1, 2025. These amendments focus on enhancing board effectiveness and independence, increasing diversity, improving risk management, and introducing greater disclosure requirements on dividend policies. Key changes include the introduction of a Lead INED role to serve as an intermediary and communication channel for directors and shareholders. The Exchange will also impose a cap on the number of concurrent Hong Kong-listed company directorships for independent non-executive directors (INEDs) and implement a nine-year cap on INED tenure to promote board refreshment. The Listing Rules will enforce mandatory continuous professional development for directors to keep them updated on key industry and regulatory developments. New provisions will require separate disclosure of gender ratios across the workforce and senior management, as well as set out requirements for maintaining a board skills matrix. The Exchange aims to improve transparency and constructive communication between boards and shareholders by mandating disclosures related to board performance reviews and dividend policies. Finally, while not all suggestions such as increasing INEDs to a majority in boards were adopted, the Exchange acknowledges these concerns for potential future consultations. #CorporateGovernance #HongKongStockExchange #ListingRules Timecodes: 0:00 Introduction to Corporate Governance Amendments 1:38 Consultation Process and Governance Aims 3:27 Guidance and Transitional Provisions 4:11 Lead INED Role Introduction 9:32 Shareholder Engagement and CPD Mandates 14:39 Board Performance Reviews and Skills Matrix 20:31 Cap on INED Directorships 24:11 Nine-Year INED Tenure Cap 31:07 Board and Workforce Diversity Requirements 37:13 Risk Management and Internal Control Reviews 42:02 Dividend Policy Disclosure Requirements 43:52 Additional Listing Rule Changes and Conclusion Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S4 · E2
    Apr 25, 2025 · 52 min

    HKEX Consultation on Proposals to Optimise IPO Price Discovery & Open Market Requirements

    Julia Charlton discusses the Hong Kong Stock Exchange's proposals to optimize IPO price discovery and open market requirements, aiming to enhance the competitiveness of Hong Kong's securities market. The exchange's proposed reforms focus on the IPO price discovery process and open market requirements, particularly the public float calculation and listing rules. Current public float calculations include shares not publicly traded in Hong Kong, such as PRC issuers’ A-shares listed in the PRC, which the exchange argues do not contribute to an open market. The exchange proposes calculating public float by considering only the class of shares listed on the Hong Kong Exchange, aligning with practices in London, Australia, and Singapore. For PRC issuers, the exchange suggests modifying the public float calculation to ensure H-shares represent a meaningful percentage of all issued shares with similar rights. The exchange proposes removing certain shares from the public float calculation, such as those with weighted voting rights, promoter shares, or held in trust for share schemes. Tiered initial public float thresholds based on market cap are suggested, potentially reducing public float requirements for large-cap companies and addressing regulatory disparities. The exchange suggests an initial free float requirement for at least 10% of listed shares to be freely tradable, proposing new rules for PRC issuers and specialist technology companies. Proposed changes in the IPO offering mechanism include a staggered lockup period for cornerstone investors and ensuring a significant portion of IPO shares is allocated to the bookbuilding tranche to enhance price discovery. The exchange also explores adjustments to pricing flexibility during IPOs, allowing upward or downward adjustments to the final offer price within specific limits, while seeking feedback on maintaining or reducing the current offer price range limits. #HKEXIPOReforms #HongKongStockExchange #PublicFloatRequirements Timecodes: 0:00 Introduction to Proposed Reforms 1:42 Public Float Calculations and International Comparisons 4:39 Proposed Changes for PRC Issuers and Weighted Voting Rights 6:24 Tiered Public Float Thresholds and Market Value Requirements 9:47 Adjusting Public Float Requirements to Enhance Market Flexibility 13:05 Initial Free Float Proposal and Compliance Disclosure 22:24 Open Market Requirements and Valuation Calculations 36:14 IPO Offering Mechanism and Cornerstone Investor Lockups 39:33 Bookbuilding Process and Allocation Policies 42:37 Subscription Tranches and Clawback Mechanisms 45:58 Enhancing Pricing Flexibility and Final Offer Price Adjustments Charltons Law Firm: https://www.charltonslaw.com/ Julia Charlton: https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media: LinkedIn: https://linkedin.com/company/2995759/ Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/ Youtube: https://www.youtube.com/@charltons-law Rumble: https://rumble.com/c/c-1647355

  • S4 · E1
    Jan 7, 2025 · 58 min

    Overview of the SFC’s Code on Takeovers and Mergers

    The Code on Takeovers and Mergers, also known as the Takeovers Code, was introduced in Hong Kong in 1975 and is voluntary, relying on market participants' willingness to comply rather than legal enforcement. The Code is overseen by the Executive Director of the Corporate Finance Division of the SFC and applies to public companies and those with a primary listing in Hong Kong. Breaches may result in private reprimands, public censures, or compensation requirements for shareholders. The Takeovers Code outlines ten general principles to ensure fair treatment of shareholders and has specific rules covering voluntary and mandatory offers. Voluntary offers can include conditions unless they are within the control of the offeror or offeree, while mandatory offers are required if the offeror gains over 30% of voting rights. Both types of offers have specific provisions regarding offer prices, share acquisitions, and cash alternatives. Advisors, including financial and legal experts, play key roles in advising companies during offers and ensuring compliance with the Code. Announcements must be made under certain conditions, such as when takeovers become imminent or during share price fluctuations. Disclosure rules require that dealings in securities by offer parties and associates be reported, while insider dealing provisions aim to prevent misuse of price-sensitive information. Directors bear obligations to act in the best interests of their company, comply with the code, and ensure accurate information is provided, with the overall aim of safeguarding shareholder interests. #TakeoversCode #CorporateFinance #HongKongMergers Timecodes:00:00 Introduction to the Takeovers Code01:47 General Principles of the Takeovers Code03:19 Voluntary and Mandatory Offers09:13 Conditions and Waivers for Mandatory Offers16:50 Advisors and Dissemination of Information23:51 Announcements and Disclosure During Offers32:42 Insider Dealing and Securities Restrictions39:17 Offer Documents and Shareholders’ Rights56:26 Director Responsibilities and Conclusion Charltons Law Firm:https://www.charltonslaw.com/ Julia Charltonhttps://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media:LinkedIn: https://linkedin.com/company/2995759/Facebook: https://facebook.com/charltonsInstagram: https://instagram.com/charltonslaw/Youtube: https://www.youtube.com/@charltons-lawRumble: https://rumble.com/c/c-1647355

  • S3 · E9
    Nov 20, 2024 · 54 min

    SFC Bookbuilding Conduct Requirements & related HKEX Listing Rule Requirements

    The webinar discusses the implementation of the Book Building Conduct Requirements as part of the SFC's Code of Conduct and the related amendments to the Stock Exchange's Main Board and GEM listing rules, which took effect in August 2022. These requirements arise from concerns identified by the SFC surrounding Hong Kong's book building and placing activities, including issues such as inflated demand and misaligned sponsor fees, leading to compromised due diligence. A key feature includes the introduction of the "sponsor coupling" requirement mandating that at least one overall coordinator of Main Board IPOs also acts as an independent sponsor. The SFC found issues with transparency and the order book during its review, prompting the new conduct requirements to clarify roles and improve fee arrangement transparency. The conduct requirements define roles for intermediaries, known as Capital Market Intermediaries (CMIs), and establish clear guidelines for their operation in book building and placing activities to bolster transparency and accountability. Specific obligations outlined for CMIs include providing detailed assessments of issuers, establishing governance processes for offerings, and ensuring proper documentation and early formal appointments defining roles and responsibilities. These measures aim to guarantee effective compliance with regulatory standards, mitigate conflicts of interest, and improve market practices for share and debt offerings in Hong Kong. The dissemination and update of information are crucial, with OCs required to disclose certain details to the SFC four business days before the listing committee hearing to facilitate oversight and standardize processes. Additional guidelines and template forms have been provided by ASIFMA to aid CMIs in adhering to the new regulations, reflecting a comprehensive industry approach to improving the integrity and robustness of the capital markets in Hong Kong. #BookBuildingRequirements #CapitalMarketIntermediaries #HongKongIPORegulations Timecodes:00:00 Introduction to Book Building Conduct Requirements01:37 Concerns and Proposals by SFC04:43 Misconduct and Market Manipulation in IPOs06:25 Implementation of Book Building Conduct Requirements09:39 Definitions and Scope of Book Building Activities11:11 CMI Roles and Responsibilities14:13 Conduct Standards and Issuer Assessment15:59 Early Appointments and Fees17:28 Sponsor Coupling and Its Importance18:56 Marketing Strategies and Investor Targeting20:14 Allocation Strategies and Transparency21:48 Prohibition on Rebates and Preferential Treatment23:18 Communication and Record Keeping24:50 Conflict of Interest Management26:34 Obligations and Reporting Requirements for OCs31:07 Listing Rules and Regulatory Compliance49:52 Conclusion52:43 Closing Remarks Charltons Law Firm:https://www.charltonslaw.com/ Julia Charltonhttps://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media:LinkedIn: https://linkedin.com/company/2995759/Facebook: https://facebook.com/charltonsInstagram: https://instagram.com/charltonslaw/Youtube: https://www.youtube.com/@charltons-lawRumble: https://rumble.com/c/c-1647355

  • S3 · E8
    Nov 19, 2024 · 1 hr 3 min

    HKEX Treasury Shares Regime and Proposed Company Re-Domiciliation Regime

    The webinar introduces significant changes related to the treasury share regime and the proposed company re-domiciliation scheme in Hong Kong, focusing first on the treasury share regime that began in June 2024. The Hong Kong Stock Exchange amended its listing rules to allow repurchased shares to be held in treasury, aligning with 92% of companies incorporated in jurisdictions like the PRC, Bermuda, and Cayman Islands, where this practice is permitted. Previously, the repurchase of shares resulted in cancellation, restricting the holding of treasury shares due to concerns about market manipulation and insider trading. Now, companies can adjust their share capital more dynamically, with treasury shares still retaining their listed status, subject to local jurisdiction laws. The second part of the presentation discusses the proposed company re-domiciliation regime, driven by a need for economic alignment and corporate governance improvements. The new regime, aiming to simplify the re-domicile process, will allow overseas companies to retain legal status while operating under Hong Kong law, aiding those from low-tax jurisdictions seeking Hong Kong’s financial benefits. Companies must meet solvency and compliance criteria, including member approval for the re-domicile, without undergoing complex restructuring. This regime is not currently extended to companies limited by guarantee, considering a lack of demand, while the Hong Kong government will closely monitor potential outward re-domiciliation needs. Finally, comparisons with other jurisdictions like Singapore and the UK are made, highlighting Hong Kong's approach to avoiding economic substance tests and aligning closely with global re-domiciliation norms. Read more: https://www.charltonslaw.com/hong-kongs-proposed-company-re-domiciliation-regime/ #FinancialRegulations #TreasuryShares #HongKongBusiness Timecodes:00:00 Introduction to New Financial Regulations03:23 Historical and Legal Context of Treasury Shares06:42 Legal Framework and Definitions of Treasury Shares09:42 Operational Requirements for Holding Treasury Shares12:51 Restrictions on Resales and Market Conduct 16:15 Detailed Guidelines for Specific Transactions18:54 Legal Safeguards against Market Manipulation22:19 Shareholder Communication and Reporting Obligations27:15 Voting Rights and Shareholder Dynamics29:21 Disclosure of Interest and Stamp Duty Implications31:12 Introduction to Proposed Hong Kong Re-domiciliation Schemes35:58 Legislative and Economic Implications38:43 Application Requirements and Process for Re-domiciliation44:19 Financial and Taxation Issues Surrounding Re-domiciliation47:15 Comparisons with Global Re-domicile Regimes58:20 UK’s Proposed Re-domiciliation Framework62:45 Conclusion of the Webinar Charltons Law Firm:https://www.charltonslaw.com/ Julia Charltonhttps://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media:LinkedIn: https://linkedin.com/company/2995759/Facebook: https://facebook.com/charltonsInstagram: https://instagram.com/charltonslaw/Youtube: https://www.youtube.com/@charltons-lawRumble: https://rumble.com/c/c-1647355

  • S3 · E7
    Nov 15, 2024 · 54 min

    Listing Mineral Companies in Hong Kong

    The webinar discusses the listing of mineral and petroleum companies on the Hong Kong Stock Exchange, focusing on the specific requirements laid out in Chapter 18 of the Main Board Listing Rules. Chapter 18 allows these companies to bypass certain financial tests required for listing, provided they meet specific criteria related to resource indication and management experience. Mineral companies must demonstrate that their core activities involve exploration and extraction, with significant assets and rights in these activities, while listing also mandates sufficient working capital for future operational expenses. Notably, the Exchange may grant waivers for material exclusion from Competent Person's Reports if certain conditions are met, such as early exploration stages or lack of available information. Disclosure standards require that both mineral and petroleum resources and reserves are reported using internationally recognized frameworks, such as the JORC Code or PRMS, ensuring transparency and consistency. Furthermore, listed mineral companies must provide regular updates on exploration and production activities and disclose information about resource and reserve changes in their annual and half-yearly reports. Companies acquiring new assets must include a Competent Person's Report and, for acquisitions, a valuation report prepared by a competent evaluator. The Exchange stresses the importance of a clear path to commercial production and imposes strict guidelines on reporting standards to protect investors. Finally, the Exchange allows exceptions and waivers for certain reporting and disclosure requirements, underscoring a flexible but stringent regulatory environment. Read more: https://www.charltonslaw.com/hong-kong-law/listing-mineral-companies-on-the-hong-kong-stock-exchange/ #FinancialRegulations #MineralCompanies #HongKongStockExchange Timecodes:00:00 Introduction and Overview of Listing Requirements01:52 Definition and Classification of Mineral Companies05:05 Eligibility Requirements for Listing as a Mineral Company06:35 Exploration Rights and Working Capital Requirements10:00 Exemptions from Financial Tests and Path to Commercial Production11:31 Gaining Waivers and Proving Experience16:08 GEM Listing Rules and Additional Disclosure Requirements21:04 Reporting Standards and Competent Person’s Reports24:37 Valuation Reports and Disclosure Standards48:37 Continuing Disclosure Obligations and Notifiable Transactions53:12 Conclusion Charltons Law Firm:https://www.charltonslaw.com/ Julia Charltonhttps://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media:LinkedIn: https://linkedin.com/company/2995759/Facebook: https://facebook.com/charltonsInstagram: https://instagram.com/charltonslaw/Youtube: https://www.youtube.com/@charltons-lawRumble: https://rumble.com/c/c-1647355

  • S3 · E6
    Nov 14, 2024 · 1 hr 55 min

    Hong Kong Regulation of Virtual Asset Trading Platforms

    The webinar elaborated on Hong Kong's regulatory framework for virtual asset trading platforms, emphasizing its two licensing regimes under the AMLO and SFO. The speaker explained the comprehensive licensing requirements, which include submitting a consolidated application through the SFC's WINGS platform, meeting stringent eligibility criteria, and fulfilling continuous obligations like financial reporting and external assessments. Hong Kong's regulatory efforts aim to align with FATF recommendations, protect investors, and support the city's ambition to be a global crypto hub. The AMLO regime, effective since June 2023, mandates licensing for platforms trading non-security virtual assets and subjects violators to severe penalties, including imprisonment and fines.The recent JPEX scandal, resulting in significant investor losses and arrests, highlighted the risks of trading on unlicensed platforms and underscored the need for strict regulation and enforcement against breaches. The speaker described the SFC's proactive measures in response, such as issuing warnings about unlicensed entities and establishing a joint working group with police to investigate suspicious activities.The webinar stressed the importance of trading on fully licensed platforms, noting that only platforms like OSL and Hashkey are currently licensed, while others operate under deemed licensing awaiting approval. Continuing professional training for responsible officers and licensed representatives is mandatory to ensure compliance, with a focus on risk management, client protection, and market integrity. Finally, the speaker concluded by emphasizing Hong Kong regulators' commitment to enforcing the virtual asset trading regulations, protecting investors, and enhancing public awareness through education initiatives and media campaigns. #VirtualAssets #HongKongRegulations #CryptoTrading Timecodes:00:00 Introduction to Hong Kong's Virtual Asset Licensing Regime01:52 Current State of Licensing Regimes03:29 Regulatory Alignment and Future Prospects05:18 Licensing Requirements and Regulatory Objectives11:24 Expanded Licensing Scope and Exemptions13:08 Technical and Operational Licensing Criteria14:40 Compliance, Qualifications, and Management Standards18:15 Roles, Responsibilities, and Corporate Governance21:13 Senior Management Accountability and Core Functions26:09 Application Process and External Assessment30:45 Working with Financial Institutions and Sandbox Environment32:19 Monthly Reporting and Activity Restrictions35:36 Committee Structures and Asset Monitoring39:02 Client Protection and Due Diligence Standards43:59 Custody and Compensation Requirements01:01:39 Compliance and Enforcement01:10:02 SFC's Regulatory Lists and Warnings01:11:53 Enhanced Oversight and Scandal Response01:13:35 JPEX Case Study and Broader Implications01:35:01 Conclusion and Investor Recommendations Charltons Law Firm:https://www.charltonslaw.com/ Julia Charltonhttps://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media:LinkedIn: https://linkedin.com/company/2995759/Facebook: https://facebook.com/charltonsInstagram: https://instagram.com/charltonslaw/Youtube: https://www.youtube.com/@charltons-lawRumble: https://rumble.com/c/c-1647355

  • S3 · E5
    Nov 12, 2024 · 57 min

    Licensing Regimes for Virtual Asset OTC Services & Stablecoin Issuers

    The webinar discussed the proposed regulatory frameworks for virtual asset OTC services and stablecoin issuers in Hong Kong. The Hong Kong government aims to address money laundering and terrorist financing risks linked to virtual assets under the Anti-Money Laundering and Counter Terrorist Financing Ordinance (AMLO). A licensing regime was implemented for virtual asset trading platforms (VATP) in June 2023, requiring operators to be licensed by the SFC and comply with AML/CTF provisions, limiting retail trading to major assets like Bitcoin and Ether. However, this regime does not cover over-the-counter (OTC) virtual asset trading, prompting new proposals for licensing these services under the Commissioner of Customs and Excise (CCE). Licensing requirements for OTC services include stringent eligibility criteria and AML/CTF compliance, with enforcement powers granted to CCE. For stablecoins, a proposed regime focuses on fiat-referenced stablecoins to mitigate monetary and financial stability risks, requiring issuers to hold proper reserve assets and meet the HKMA's stringent conditions. The proposed regimes emphasize investor protection by imposing severe penalties for non-compliance and plan transitional periods to integrate existing operators. Additionally, the HKMA introduces a sandbox initiative for testing stablecoin business models, with three participants already admitted. The overall aim is to foster safe virtual asset innovation and ensure regulatory alignment with global standards. #VirtualAssets #HongKongRegulation #StablecoinIssuers Timecodes:00:00 Introduction to Hong Kong's Virtual Asset Licensing Regime01:57 Background and Development of Hong Kong's Regulatory Framework03:31 Licensing Regime for Centralized and OTC Trading Platforms05:20 Eligibility and Compliance Requirements for OTC Licenses06:58 Operational and Trading Conditions for OTC Services08:42 OTC License Transition and Sanctions15:12 Regulatory Framework for Stablecoin Issuers18:30 Definition, Licensing, and Regulation of Stablecoins28:10 Risk Management and Compliance for FRS Issuers33:25 HKMA's Oversight and Licensing Conditions for FRS Issuers38:44 FRS Issuance, Market Operations, and Licensing Renewal45:44 International Cooperation and Flexible Regulatory Adjustments50:48 Sanctions, Transitional Arrangements, and Public Awareness54:24 Conclusion and Future Developments Charltons Law Firm:https://www.charltonslaw.com/ Julia Charltonhttps://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/ Don’t forget to follow our social media:LinkedIn: https://linkedin.com/company/2995759/Facebook: https://facebook.com/charltons Instagram: https://instagram.com/charltonslaw/Youtube: https://www.youtube.com/@charltons-lawRumble: https://rumble.com/c/c-1647355

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