In September, Hong Kong’s reputation as a global financial hub took a battering following the news of high-profile arrests related to unlicensed crypto exchange Japan Exchange (JPEX). The Securities and Futures Commission (SFC) issued two public announcements warning investors that JPEX’s claims to be regulated were false, and that some of its activities, including offering high returns on various virtual asset products, were prohibited under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.

For the longest time, Macau has been seen as a synonym for glitzy casinos and picturesque architecture. But in recent years, the former Portuguese colony has been pulling out all the stops to buttress its financial credentials. In fact, developing Macau’s financial industry has been a major administrative policy since 2019.

With emerging technologies driving demand for novel legal advisory, law firms are increasingly seeing a pressing need to strategise their teams accordingly. Leaders share with ALB how they are taking essential technological knowledge into consideration when making hires that enable their firms to come on top in client work.

Yeong Zee Kin became the chief executive of the Singapore Academy of Law in April, following a career geared towards technology regulation and data protection in both public and private sectors. The former deputy personal data protection commissioner shares his thoughts on AI, and how Singapore’s legal profession can evolve, making the best use of it.

Swiss-Korean firm Peter & Kim, which specialises in international arbitration, has broadened its presence in Europe with a new office in Zurich. The office is its second in Europe, to go with its headquarters in Geneva.

In recent years, more and more law firms have brought on board chief innovation officers to shake things up, with the aim of getting vital competitive advantage in an industry often described as stagnant. Holders of this relatively new title share their vision and action plans on how to bring about effective disruptions to take their organisations forward.

International law firms operating in China have been mired in a crisis of confidence following a series of grim news. In the latest signal of market dismay, Magic Circle firms Linklaters and Clifford Chance trimmed associate headcounts in China and Hong Kong as a result of the weaker economic environment.

Singapore has taken a major step towards becoming Asia’s ESG hub as the island nation is poised to pioneer a set of mandatory climate-related disclosures (CRD) rules for all listed companies from financial year 2025.

In recent years, the Japanese government has been enhancing the country's image as a preferred choice for international arbitration and dispute resolution. The latest steps include modernising the Arbitration Act to match international practice. Lawyers share how effective the legislation can be and what more the government should do to support Japan's arbitration ecosystem.      

In a bid to broaden its presence across Southeast Asia, Singapore Big Four firm Drew & Napier has expanded its regional law network, Drew Network Asia (DNA), to include Thailand's biggest firm, Tilleke & Gibbins. Sushil Nair, Drew & Napier's deputy chief executive officer, outlines the strategic focus of DNA and how expansive jurisdictional coverage can translate to enhanced client service.