| (Webinar via Zoom) Economic Crime and Corporate Transparency |
| Date: |
7 October 2024 (Monday) |
| Time: |
2:30pm - 5:45pm |
| Level: |
I (Intermediate)
For delegates who have prior knowledge of the subject area |
| Language: |
English |
| Fee: |
HK$ 1,850 |
| Accreditation: |
3 CPD pts (Accredited by The Law Society of Hong Kong) |
| Ref: |
L24CC07 |
| Venue: |
Webinar Course
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Presenter's Biography:
Nicholas Pirie has been practising at the Bar for more than 40 years in Hong Kong. He maintains a civil practice with a focus on personal injuries, particularly medical negligence. He has also acted in a wide range of other common law and commercial matters at all court levels, including the Hong Kong Court of Final Appeal and the Privy Council. This has included claims against solicitors and other professionals for negligence. In the last year, he has dealt with international sales of goods and other commercial cases in the Hong Kong International Arbitration Centre. He is currently chairman of the Hong Kong Bar Association Committee for Personal Injuries and Insurance.
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Outline:
Like Hong Kong, the UK has one of the most open economies in the world, making it an attractive place for global businesses. This exposes Hong Kong to the risk of bad persons taking advantage of this openness. Given the large business collapses of Evergrande, Country Garden and Shimano in the real estate market in the PRC this exposes Hong Kong's pivotal position in these entities perpetrating fraud and money laundering, which funds organized crime and corruption in the PRC and elsewhere. The threat of criminal finance undermines our banking systems. Hence ever growing compliance departments the banks have developed. Also it undermines legitimate businesses and all of our lives, as the impact of the Lehmann Brothers Bank demonstrated with over 23,000 depositors losing their funds in Hong Kong alone.
Speaker will discuss the impact of the:
- The UK Economic Crime (Transparency & Enforcement ) 2022 Act upon Hong Kong companies and individuals who may be targeted by this legislation and:
- Creates a Register of Overseas Entities to help crack down on foreign criminals using UK property to launder money;
- Reforms and strengthens the UK's Unexplained Wealth Order regime;
- The Economic Crime and Corporate Transparency Act 2023
- This bring reforms to the role and function of Companies House in UK, which may be brought into Hong Kong
- Reforms the law relating to Limited Partnerships with the aim of preventing abuse;
- Gives the authorities new powers to seize and recover suspected criminal cryptoassets;
- These reforms also allow businesses more confidence to share information in order to tackle money laundering and other economic crimes;
- Gives law enforcement agencies more intelligence gathering etc.
This lecture should be attended by Compliance Officers, lawyers involved in economic crime cases, and accountants who need to conduct higher standards of due diligence and reporting. These changes in UK Law may come into Hong Kong practice in advance of any law changes, the more especially when the scale of the PRC property company collapses are known, and other businesses in the PRC which have used Hong Kong for money laundering and criminal activities.
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| Category: |
Corporate / Commercial |
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Bookings & Payments
To reserve a seat, please fax the completed booking form to us. We will send out a written Booking Confirmation either by fax or by email to confirm your booking, normally within 48 hours after receiving the booking form. Payment should be made upon we send the Booking Confirmation to you, or together with the booking form if the booking is received within seven (7) days of the course. You are advised to contact us to confirm your place if you have not received the Booking Confirmation prior to the commencement of the course.
Cancellation
In case of cancellation of a booking, you must inform us in writing at least seven (7) days before the date of the course, and a full refund will be issued (less of HK$300 administration fee). Cancellation of unpaid bookings will incur a HK$300 administration fee and the cancellation will not be deemed effective until payment of such fee is received. No refunds will be given and any outstanding amounts remain payable in full if the written notice of cancellation is made less than (7) days before the date of the course.
Transfer
If you cannot attend a booked course, you must inform us in writing at least 24 hours before the commencing time of the course. You may then:
- Transfer the booking to a replacement delegate;( Not available for Individual Discount Packages)
- Transfer your booking to another course, to be held before 31 October 2024; or
- Request a credit voucher, to be used on another LexOmnibus CPD course to be held before 31 October 2024.
No attendance
Once a booking is confirmed and no written notice of cancellation is received by us within the specified time as mentioned above, if a delegate has not settled the payment for a course and fails to attend, for whatever reason, the course fee will remain payable in full. To be awarded CPD points, full attendance of all parts of the conference is required. If you arrive later, or fail to attend a course, your course fee will not be waived, refunded or a credit voucher issued.
Weather
In the event that the No.8 typhoon signal is hoisted or the Black Rain Storm warning is raised within 2.5 hours of the course or is due to be raised during the course, the course will be cancelled. In the event of cancellation due to bad weather, the course will be rescheduled or a credit note issued. No refunds will be given.
Record of Attendance
A certificate of attendance can be provided at a cost of HK$40. Alternatively, a verification of attendance in letter format, along with the original payments receipt is available, at a cost HK$40. Please apply in writing to request either a certificate or verification letter subsequent to the course.
Conference Venue
All the conferences, except webinars, will be taken place in either Central or Admiralty. The address of the conference venue will be notified by email, and via the website.
Other Terms
- We may reschedule, vary the details of a course at any time without liability. If we cancel or reschedule the course, except due to the weather conditions indicated, a credit note will be issued.
- Any bank charges and/or expenses incurred as a result of bounced cheques shall be borne by the delegates.
- LexOmnibus will not issue an invoice for registration of a course except under special circumstances and LexOmnibus reserves the right to charge an administration fee for providing that service.
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