Regulatory

Regulatory

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Clifford Chance
Herbert Smith
Linklaters

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Allen & Overy
Richards Butler in association with Reed Smith LLP
Simmons & Simmons

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Allens Arthur Robinson
Baker & McKenzie
DLA Piper
Deacons
Freshfields Bruckhaus Deringer
Lovells
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Dechert LLP in association with Hwang & Co
Jones Day
Mallesons Stephen Jaques
Mayer Brown JSM
Slaughter and May
Timothy Loh, Solicitors
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Clifford Chance has one of the biggest practices in Hong Kong, acting for CITIC Pacific, Citigroup, Macquarie, Deutsche Bank, UBS, Morgan Stanley and Bank of China. Clients praise the lawyers’ ‘experience and expertise’, singling out Martin Rogers, who ‘has been in Hong Kong for a long time and is very up-to-date on the thinking of the local regulators’. Matthias Feldmann and Donna Wacker recently made partner, joining Mark Shipman. The team has been involved in several SFC investigations against financial institutions, and is drafting the regulations governing the new Hong Kong Mercantile Exchange.

Herbert Smith has a reputation for contentious work, handled by Mark Johnson, Gavin Lewis and Tim Mak, and can call on Ashley Alder and John Moore for non-contentious matters. The practice has advised on internal investigations on insider dealing, market manipulation and derivatives trading, and worked on SFC and HKMA investigations including the Lehman Brothers mini-bonds issue. Partners are ‘very smart and diligent’ and ‘efficient in terms of turnaround’.

Linklaters ‘considers all the business aspects of a transaction’ and ‘has the ability to apply the law to actual working issues’. Carl Fernandes and Marc Harvey focus on non-contentious and contentious work respectively. Other significant individuals include recent partner Umesh Kumar and Melvin Sng. The practice advised Merrill Lynch on non-US regulatory aspects of its merger with Bank of America, and handled the restructuring and disposal of Lehman Brothers Asia. Additional clients include HSBC, RBS, Standard Chartered Bank and BlackRock.

Allen & Overy has dealt with the loss of Simon Berry to Latham & Watkins LLP by transferring non-contentious specialist Alan Ewins from London, to join litigator Angus Ross. This move has paid dividends, with clients saying ‘Alan has made a very good impression - he is proactive, goes the extra mile and is very dynamic’, while ‘Angus is personable and a very experienced litigator’. Others add that ‘they have a pragmatic approach to matters’, but ‘they need more depth of experience in their junior to mid-level associates’, though hiring senior associate Abdulali Jiwaji from Lovells may help in this. The practice advised UBS on disclosure issues in Hong Kong, Kazakhstan and Papua New Guinea, and Standard Chartered Bank on the acquisition of Cazenove Asia.

The ‘quality practice’ at Richards Butler in association with Reed Smith LLP has an excellent reputation for contentious work, led by Jonathan Green, and coverage of financial services regulatory issues spearheaded by David Morrison. Clients include CITIC Group, Li & Fung, ANZ and PCCW.

Simmons & Simmons focuses on the regulation of financial services across the region, covering investigations, enforcement, compliance and, with the addition of Sau Wing Mak, SFC-authorised retail structured products. Paul Li and Rolfe Hayden ‘are undoubtedly expert in their fields and combine a tremendous working knowledge with excellent client service’.

Allens Arthur Robinson’s non-contentious practice is led by Matthew Barnard, who ‘has a deep understanding of the financial services regulatory framework in Hong Kong’, and handled the SFC licence application for Citadel Derivatives Group. Contentious specialist Simon McConnell has ‘a pragmatic approach to litigation’. Clients are ‘impressed with the practice’s business acumen and industry knowledge, and the precision of the advice’, and say the group has ‘an excellent understanding of our operational model both locally and globally’.

Baker & McKenzie’s cross-practice model draws on expertise in banking, dispute resolution, tax, real estate and insurance. Milton Cheng leads the practice ,while Andrew Lockhart advised ICBC International (formerly ICIC) on the transfer of assets and liabilities to ICBC Asia.

DLA Piper covers not only financial services regulation, but spans across competition issues and FCPA investigations, with the hire of David Cox and consultant Tham Yuet Ming from in-house roles. Christopher Clarke advised Cheung Kong Infrastructure on listing rules relating to its $733m disposal of Outram to Hong Kong Electric.

Deacons handles financial services compliance, run by Jane McBride, and contentious work such as the insider dealing cases handled by practice head Joseph Kwan. Clients say ‘they’re very knowledgeable’ and ‘very plugged in to the regulators’. Rory Gallaher is also recommended.

Freshfields Bruckhaus Deringer advised Nomura on its acquisition of Lehman Brothers’ assets in Asia, and Credit Suisse on the disposal of its asset management business in Asia to Templeton, both handled by Rob Ashworth. Richard Chalk is highly regarded for his contentious work.

Lovells’ partners stand out for the ‘excellence of their work and their professional integrity’, with clients adding ‘they are technically strong, hardworking and eminently likeable’. Key individuals include Mark Lin and Gary Hamp.

Dechert LLP in association with Hwang & Co deals with contentious and non-contentious work for investment fund clients, especially regarding compliance with US regulations such as the FCPA and SEC rules. David Chu and Henry Wang are the key partners.

Jones Day has more of a contentious focus, particularly in lead partner Simon Powell’s niche area of telecoms regulation. Powell acted for i-Cable WebServe and Hong Kong Broadband, as well as for former members of Lehman Brothers’ in-house legal team in relation to the mini-bonds investigation. Clients are ‘happy with the response times, level of knowledge regarding key issues and commercial focus’.

Clients recommend Mallesons Stephen Jaques ‘for great depth across the whole spectrum of regulatory work’ and say ‘they are in touch with recent developments’. Richard Mazzochi and Hayden Flinn handle licensing and compliance for clients such as General Electric, Credit Suisse and Goldman Sachs. Simon Clarke leads on contentious work, while Adeline Chin went in-house at PricewaterhouseCoopers.

Mayer Brown JSM handles compliance issues for financial institutions from start-ups to well-established names, including ABN AMRO, ANZ, HSBC, BNP Paribas and Commerzbank. Sara Or leads the practice, while Philip Smith covers regulatory work for funds.Slaughter and May’s main contact is dispute resolution partner Mark Yeadon, who advises on regulatory investigations of financial institutions, including fraud and shareholder disputes.

Timothy Loh, Solicitors brings its local knowledge to bear, with clients saying the firm ‘shows total commitment and has all the required expertise to cover our needs’. Name partner Timothy Loh ‘has excellent credentials with regulators’.