Upcoming & recent

Hong Kong and BEPS 2.0

Time: 30 November 2021 (Tuesday), 3:00-4:30 pm Hong Kong Time
Duration: 1.5 hrs
Location: Virtual
Link: Here
Description:

This presentation will consider how the recent agreement reached by the OECD/G20 on the Inclusive Framework on BEPS to address the tax challenges from the digitalization of the economy may impact upon Hong Kong. With the agreement only having been recently reached and with much work to be undertaken to bring it into effect, this presentation can at best speculate on how this agreement with impact upon Hong Kong. Indeed, the presentation will be premised on the assumption that the agreement is implemented largely as intended.

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Book Talk: Consumer Theories of Harm

Time: 30 November 2021 (Tuesday), 6:00-7:00 pm Hong Kong Time
Duration: 1 hr
Location: Virtual
Link: Here
Description:

It has long been thought that fairness in European Consumer Law would be achieved by relying on information as a remedy and expecting the average consumer to keep businesses in check by voting with their feet. This monograph argues that the way consumer law operates today promises a lot but does not deliver enough. It struggles to avoid harm being caused to consumers and it struggles to repair the harm after the event. To achieve fairness, solutions need to be found elsewhere. Consumer Theories of Harm offers an alternative model to assess where and how consumer detriment may occur and solutions to prevent it. It shows that a more confident use of economic theory will allow practitioners to demonstrate how a poor standard of professional diligence lies at the heart of consumer harm. The book provides both theoretical and practical examples of how to combine existing law with economic theory to improve case outcomes. The book shows how public enforcers can move beyond the dominant transparency paradigm to an approach where firms have a positive duty to treat consumers fairly and shape their commercial offers in a way that prevents consumers from making mistakes. Over time, this 'fairness-by-design' approach will emerge as the only acceptable way to compete. More information can be found at https://www.bloomsbury.com/uk/consumer-theories-of-harm-9781509916870/

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Directors’ Duties and Disclosure Obligations under Hong Kong Law regarding Climate Change

Time: Friday, 10 December 2021, 3:00 PM Hong Kong Time via ZOOM
Duration: 2 hrs
Location: Virtual
Link: Here
Description:

The CCLI has commissioned a legal opinion by Mr Alex Stock, SC, and Ms Jennifer Fan from Temple Chambers in Hong Kong regarding directors’ duties and disclosure obligations in respect of climate change and climate change-related issues under Hong Kong law. The legal opinion will be discussed at a virtual event “Directors' Duties and Disclosure Obligations under Hong Kong Law regarding Climate Change” co-hosted by the CCLI and the HKU Asian Institute of International Financial Law (AIIFL). An accompanying white paper, expanding and complementing the legal analysis will be discussed at the event and published on the same date. The new legal analysis finds that, since Hong Kong law requires directors to act in good faith in the best interests of the company and to exercise reasonable care, skill and diligence, directors are legally both entitled and obliged to take into account risks and considerations arising from the effects of climate change. This event will amplify the key roles and responsibilities of Hong Kong directors to navigate their companies through the disruptions of climate change and the global net zero transition, and in doing so, assist Hong Kong in tackling these complex challenges.

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Regulators’ Perspectives on AI, Technology and Personal Data Protection

Time: 22 November 2021 (Monday), 3:00 – 4:30 PM Hong Kong Time
Duration: 1.5 hr
Location: Virtual
Link: Here
Description:

Ms Ada Chung, Privacy Commissioner for Personal Data, Hong Kong will present "Ethical Development and Use of AI" and Mr Yeong Zee Kin, Deputy Commissioner, Personal Data Protection Commission, Singapore will present "Singapore’s Approach to Developing Trustworthy AI"

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A Multilateral Agreement on Carbon Pricing and Implications for Developing Countries

Time: 17 November 2021 (Wednesday), 3:00-4:00 pm Hong Kong Time
Duration: 1 hr
Location: Virtual
Link: Here
Description:

Climate change is an urgent issue facing all nations. A carbon pricing measure can be a cost-effective way to address climate change issues. However, a truly effective measure of this sort would need to be implemented on a global scale and at an appropriate price level. This presentation considers options for creating a multilateral carbon pricing framework and implications for developing countries. It analyses three options: a global carbon tax, adoption of emissions trading systems widely with progressive tightening of emissions targets, and a global minimum carbon price framework. It argues that a multilateral agreement on global minimum carbon prices can be an optimal option to the extent that the agreement applies to major carbon emitters and provides differential prices for developing countries. The global minimum carbon price framework could be supplemented with unilateral border carbon adjustments to encourage compliance, but the legality of such adjustments must be considered in light of international trade law and the principle of common but differentiated responsibility. The article concludes that the global minimum carbon price option can help scale up carbon pricing globally with effective prices for emissions reduction and at the same time take into account the interests and needs of developing countries in the implementation of reduction policies.

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PSD2 and the Regulation of Data-Based Innovation in Retail Banking: A European Perspective

Time: 6 October 2021, 4:00 - 5:00 PM, HKT
Duration: 1 hr
Location: Virtual
Link: Here
Description:

Directive (EU) 2015/2366 on payment services (PSD2) is the cornerstone in the EU’s regulatory framework for retail payments. Adopted in 2015, PSD2 paved the way to what is known today as open banking – provision of innovative financial services by non-banking providers using consumer data. Despite addressing the issues of uneven-playing field and consumer protection, and the aim of PSD2 to facilitate innovation, enhance trust and consumer control over their own data, a number of challenges remain. Problems of technological interoperability and obstacles to cross-border provision of services persist, and prompt a critical review of the current regulatory framework. The lecture will guide participants through the core elements of PSD2, focus on the consumer payment account data sharing and the interplay between PSD2 and the General Data Protection Regulation (GDPR), outline the main regulatory challenges and discuss the recent proposals to revise the current framework.

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AI Governance and Open Finance Initiatives

Time: 13 September 2021, 4:00 – 5:00 PM HKT
Duration: 1 hr
Location: Virtual
Link: Here
Description:

The lecture will have two parts. The first will talk about AI governance and the concept of ‘AI in community’. Following will be a discussion of digital self-determination as a progressive approach to responsible data access and a paradigm of data management which moves away from rights and ownership, rejects contestation and looks for mutualised interests. The second part of the lecture will take two case studies 1) fair lending, and 2) open banking. Both these areas of interest provide fertile discussion of the application of digital self-determination (DSD). For instance, the Hong Kong Monetary Authority recently announced plans to launch the Commercial Data Interchange (CDI), a new consent-based financial infrastructure which seeks to enable more secure and efficient data flows between banks and businesses to address pain points in SME financing. This is part of the four phase initiate on Open Banking. DSD has specific application in achieving these aspirations. Openness connects with DSD’s requirement that data-subjects should be informed about the nature, purpose and consequences of personal data access and usage. Fairness is reflected DSD’s commitment to autonomy in community – where data interests may be shared, responsibilised and respectfully managed in an atmosphere of mutual benefit. Speakers: Professor Mark Findlay and Nydia Remolina.

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Digital Assets in Hong Kong: What are They and How are They Taxed

Time: 31 May 2021 4:00-5:00 pm HKT
Duration: 1 hr
Location: Virtual
Link: Here
Description:

CLICK THE LINK TO WATCH | Initiated by the Taxation Law Research Programme (TLRP), Asian Institute of International Financial Law, Faculty of Law, University of Hong Kong | Join Dr. Oriol Caudevilla, Honorary Fellow of the Asian Institute of International Financial Law, in the webinar presentation 'Digital Assets in Hong Kong' who will contrast between digital assets and #cryptocurrencies, discuss #blockchain technology and how digital assets are taxed in Hong Kong. The presentation will take place via Zoom on Monday, 31 May 2021, 4-5pm HKT. Click link for REGISTRATION and more information.

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