Enacted in June 2012, the long-awaited Competition Ordinance (Cap. 619) came into full force in Hong Kong on 14th December 2015. The Competition Ordinance establishes the first cross-sector competition law regime in Hong Kong and affects all types of business entities in the territory.
While the Competition Ordinance is still in its infancy, Haldanes is proud to be one of the first few Hong Kong law firms that has substantive experience in advising client on competition and anti-trust issues. We have advised an internationally renowned fashion brand on the competition implications of a potential anti-competitive agreement, and provided practical solutions to avoid a contravention. We have also advised a client in the very first Competition Tribunal proceedings in Hong Kong (CTEA1/2017) relating to price fixing in the information technology industry.
On an international level, we have worked with U.S. competition attorneys to defend an investment banker in a cross-border price-fixing case involving complex financial products. The legal team made attorney proffers to the U.S. Department of Justice to secure a non-prosecution agreement for client.
Haldanes has been repeatedly awarded the “Criminal Law Firm of the Year” in Hong Kong for its outstanding practice in criminal defence and regulatory matters. With our wealth of experience in dealing the regulatory authorities, we are able to assist clients in navigating through the Competition Ordinance together with its regulations, guidelines and practice directions.
Our services include:
- advising clients on potential anti-competitive conduct under the First Conduct Rule and Second Conduct Rule;
- representing clients at interviews and “dawn raids” by the Competition Commission;
- defending clients in Competition Tribunal proceedings;
- designing internal controls and compliance procedures for clients;
- providing training to company staff on the Competition Ordinance;
- drafting and reviewing commercial agreements to ensure that they are not considered anti-competitive.