YOUR CHAMBER: LEGAL WEBINAR
Employers’ Guide to the NSL 10 September 2020 Lewis Silkin joined the Chamber for a webinar to share details on the National Security Law (NSL) and main HK employment law changes. The speakers provided an overview of the NSL with a focus on key considerations for employers. Companies should consider the Code of Conduct with an emphasis on compliance with local laws and regulations when deciding to amend policies. The application scope of the NSL and how it impacts on talent attraction and retention was also covered. Article 43 of the law highlights the obligation to allow search of office, etc. Data users must comply with the data protection principles in the Personal Data
(Privacy) Ordinance (PDPO), unless exemption applies. In light of this, employers are recommended to review their Personal Information Collection Statement and Data Privacy Notice. Other considerations included communications to staff, press and clients, and business continuity plan update. The employment partners further outlined the Employment Support Scheme, along with advice on legal considerations for working from home from an HR perspective. Amendments to anti-discrimination laws and enhancement to maternity leave benefits were underlined, on top of laws relating to diversity monitoring in Hong Kong and its associated risks.
YOUR CHAMBER: GREATER BAY AREA
GBA Challenges and Opportunities 24 September 2020 The Chamber held a panel discussion with leading experts to discuss GBA opportunities and challenges within financial services. The panel included Dr King Au, Executive Director, Financial Services Development Council; Josephine Kwan, Partner, PwC Hong Kong; and was moderated by Rose Kay, Head of Greater Bay Area, Commercial Banking, Standard Chartered Bank. King reviewed FSDC’s latest paper and shared key policy recommendations such as connecting payment and transferring infrastructure, and renminbi (RMB) internationalisation. Further recommendation highlights include enhancing the convenience of remote account opening and fostering crossboundary financial activities. Josephine shared the latest findings from a PwC report in developing a GBA mindset and the mobility of people, data, and capital in the GBA. With a phased approach, the implementation of Wealth Management Connect and Insurance Connect aims to support the financial reform of the Greater Bay Area. As the licensing regime is product-specific, regulators should have
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oversight of the new financial products, equally, investors should be educated on these. The scheme is expected to progress as more complex products are launched. The panellists also explored the latest development in the region, for example emerging tech-based unicorns and IPO unicorns, with Rose moderating the panel. Through the GBA, Hong Kong seeks to amplify its financial services industry and become an all-round financial hub for Asia.
