Herbert Smith Freehills has been awarded Law Firm of the Year in the inaugural Regulation Asia Awards for Excellence 2018, after a rigorous selection process involving a judging panel made up of subject-matter experts and the Regulation Asia editorial team. The award was presented at a ceremony in Singapore on 13 November 2018.
Herbert Smith Freehills has been advising clients on some of the most high-profile, complex and sensitive investigations, some of which have involved multiple jurisdictions and regulators. In the past year, Herbert Smith Freehills has advised firms on regulatory investigations involving Australia, China, Hong Kong, Indonesia, Singapore, Switzerland, the UAE and the US.
At the firm’s Hong Kong practice, it has been advising on five of the eight ongoing investigations by the Securities and Futures Commission (SFC) into IPO sponsor misconduct, an area identified as one of the regulator’s key enforcement priority areas. It is also advising several financial institutions on major anti-money laundering (AML) investigations, an area of focus for the Hong Kong Monetary Authority (HKMA) ahead of the upcoming Financial Action Task Force (FATF) assessment.
Notably, Herbert Smith Freehills’s engagement and strong ties to industry bodies and regulators put the firm in a unique position to liaise with policymakers on behalf of clients and help shape regulatory change across the region. In particular, the firm formally advised ASIFMA (Asia Securities Industry & Financial Markets Association) on the SFC’s Manager in Charge regime and is leading its work to assess the impact of the EU’s Benchmarks Regulation. Herbert Smith Freehills and ASIFMA have also co-authored a set of best practices for FinTech in Asia Pacific, among other collaborative projects.
In the past year, Herbert Smith Freehills has also increasingly advised companies on complex fintech matters, including the regulatory aspects of robo-advisory platforms, stored value facilities, cryptocurrency exchanges and ICOs, payment and remittance systems, and the application of big data and artificial intelligence in financial services.
The firm has also developed a crisis management app to help clients respond to crisis scenarios, such as dawn raids, cyberattacks, health and safety incidents, and other regulatory triggers. The app was highlighted by one judge as an example of Herbert Smith Freehills “going above and beyond the call of duty”.
About the Regulation Asia Awards for Excellence 2018
The inaugural Regulation Asia Awards for Excellence recognises technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative startups that help meet the requirements of a specific regulatory change infrastructure.
For a full list of award winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. Since 2013, our audience and subscription base have grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing us to play a key role in the regulatory agenda.
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