Global Mindset. Local Instinct.

Ian Liao

Legal Technology Trends That Will Define 2022

The technology sector is continuing to rapidly evolve, with the metaverse, NFTs, the blockchain and a host of other advancements sweeping industry discussions in the last year. The legal industry is deeply connected to tech advancements and as a result is also adapting to the “new normal”. In keeping with this, firms that are able to understand and expertly advise…

U.S. SEC Warns of Investment Risks Involving Variable Interest Entity Structure

September 22, 2021 The U.S. Securities and Exchange Commission (SEC) issued an alert to investors this week warning about potential risks in investing in U.S.-listed companies that have contracts with but no control over operating entities in China.  This arrangement is commonly known as a variable interest entity (VIE) structure under which the U.S.-listed company’s wholly owned subsidiary in China…

Client Alert: Proposed Strategic Competition Act of 2021

April 12, 2021 Proposed Bill Seeks to Counter China’s Global Competition Ambitions In directing the U.S. government to adopt a policy of “strategic competition” with China and the protection and promotion of “vital interests and values” of the United States, a new bipartisan bill, the Strategic Competition Act of 2021 was introduced in the US. Senate on April 8, 2021. …

MOFCOM Promulgated New Rules on Extraterritorial Application of Foreign Laws

On January 9, 2021, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) promulgated the “Measures for Blocking Improper Extraterritorial Application of Foreign Laws and Measures” (the ” Rules”), which took effect immediately on the date of promulgation. Article 1 of the Rules states that the measures were developed “in order to block the impact of improper extraterritorial…

To Delist or Not to Delist? NYSE Backtracks on Delisting of Chinese Telecom Companies

As the world welcomes 2021, the New York Stock Exchange (NYSE) announced its plan to delist three state-owned Chinese telecommunication companies from the exchange to comply with the Trump administration’s executive order barring U.S. investments in Chinese firms determined to be owned or controlled by the military. The United States Department of Defense had previously listed the three companies –…

Major Index Providers Drop Securities of Chinese Firms from Benchmarks

Early this month, S&P Dow Jones Indices decided to drop securities from 21 Chinese companies, including Hangzhou Hikvision Digital Technology Co. (“Hikvision”), Semiconductor Manufacturing International Corp. (“SMIC”) and CRRC Corp. (“CRRC”), from its benchmark indices. This action comes after a Trump administration executive order that limits U.S. investment in the securities of certain Chinese companies. Securities of 10 Chinese companies…

Recommendation from Trump Administration May Result in the Delisting of U.S.-listed China-Based Companies from U.S. Exchanges

On August 6, 2020, the President’s Working Group on Financial Markets (“PWG”) released its report in response to President Trump’s June 4 Memorandum on Protecting United States Investors from Significant Risks from Chinese Companies. The PWG report made five recommendations that are intended to address “certain risks to investors in U.S. financial markets posted by the Chinese government’s failure to…