The Tax Special Business Team (“Tax SBT”) shared insightful discussion on the topics “International Tax Trends in Global Mobility of Personnel and Development News on Digitalisation (“Digital Tax”)”. With the increasing demand of data support and IT services, legal practicioners are facing uncertainty and challenges in advising clients of potential tax obligations. Mr. Massimiliano Gazzo and Mr. Willy Cheng shared insightful comments and their own experience on handling Digital Tax enquiries. They also provided practical guidance and recommendation on how tax lawyers should handle any tax enquiries and concerns. Participants also shared the tax positions of their respective jurisdiction, which was helpful to participants who handle cross-border transactions. The Tax SBT offered a platform for in-depth discussion and facilitated participants to be more prepared for future challenges brought by digitalization.
Mr. Willy Cheng (SW)
The themes for the Arbitration Special Business Team (“Arbitration SBT”) and the Litigation Special Business Team (“Litigation SBT”) were “HKIAC, A Rising Arbitration Hub In Asia” and “An Era of Innovation: Global Recovery Strategies in Tackling Cybercrime” respectively. The two meetings were both chaired by SW Partner Ms. Heidi Chui.
Mr. David Fong and Ms. Heidi Chui (SW)
During the Arbitration SBT, guest speaker, Mr. David Fong, Vice-Chairman of Chartered Institute of Arbitrators (East Asia Branch) shared with delegates his insights of HKIAC as a rising arbitration hub in Asia.
Ms. Chui presented a crystal display as a token of appreciation to Mr. Fong.
During the Litigation SBT, guest speaker, Mr. Anson Wong SC of Des Voeux Chambers shared with delegates his practical strategies in tackling cybercrimes which have a connection with Hong Kong and the available remedies from the Hong Kong courts including a Bankers Trust Order for tracing purposes.
Ms. Chui presented a crystal display as a token of appreciation to Mr. Wong
During the roundtable discussions, all delegates were invited to share their arbitration experience and common remedies available for tackling cybercrimes in their home jurisdictions.
Both meetings were well received by delegates. Through sharing, member firms will have a better understanding of each firm’s capabilities so as to explore more opportunities for cooperation and communication in the future.
The Mergers & Acquisitions Special Business Team (“M&A SBT”) was chaired by SW Partner Mr. Rodney Teoh with the theme of “Trending Mergers & Acquisitions And Fintech”. Ms. Florence Ng, Mr. Spencer Li, the general manager of Blue Ocean Pay, and Mr. Henry Yu were invited as guest speakers. Ms. Ng shared her views on the relationship of fintech innovation with money, the financial markets, funding and infrastructure. Mr. Li introduced the use and trend of fintech technology around the globe. Delegates at the M&A SBT were invited to share their fintech experience in their jurisdictions. Mr. Yu gave an informative talk on virtual commodities (e.g. Bitcoin) and virtual assets (e.g. Cryptocurrencies, utility tokens and asset-backed tokens). Mr. Yu also introduced the requirements for a applying Type 7 license, which may allow professional investors to trade securities tokens.
Mr. Rodney Teoh (SW)
The Banking, Finance & Insolvency Special Business Team (“BFI SBT”) was chaired by Mr. Bill Jaimeson and co-chaired by SW Senior Associate Mr. Terence Lau. Other guest speakers included Mr. Carl Wegner, the managing director and head of Asia of R3, Mr. Henry Yu, Mr. Peter Woo, the Chief Strategist of eMALI.io, and Mr. Syren Johnstone, director of Keel Consulting and the executive director of the LLM (Compliance & Regulation) Programme at the Faculty of Law, University of Hong Kong. BFI SBT was also on Fintech/ Cryptocurrency but focusing on the regulatory side, in particular the current business practice of the industry, the concerns and needs of clients in this industry, the lack of regulation in this area, and the way forward.
The Joint Employment, Labor and Pensions and Tax Special Business Team was chaired by Massimiliano Gazzo and Stephanie Gilcher and co-chaired by SW Partner Mr. Willy Cheng and Senior Associate Ms. Hazel Wong with the theme of ““Global Mobility of Personnel”.
The Diversity, Inclusion and Community SBT (“DIC SBT”) was a great reminder to legal professionals of their duties to introduce initiatives to support persons with disabilities in their firms and companies. Ms. Silvia Mak, the Deputy Chief Executive Director of Fu Hong Society, shared cases and information in what employers and employees can do to facilitate and assist persons with disabilities to enter into their workforce. Delegates appreciated her sharing as well as her services to persons with disabilities. Mr. Brett Hearnden and Ms. Lai Lam, the chairman and co- chair of the DIC SBT, thereafter, led an interactive discussion with delegates with regard to this important topic.
Ms. Lai Lam and Mr. Brett Hearnden presented a crystal display as a token of appreciation to Silvia Mak
A cocktail party was held in Stevenson Wong & Co. office with champagnes, canapés and roasted pig.