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Conference Paper: Hong Kong’s Criminal Law Framework for Financial Centre Development

TitleHong Kong’s Criminal Law Framework for Financial Centre Development
Authors
Issue Date2014
PublisherShanghai Jiao Tong University, Koguan Law School.
Citation
Asian Financial Centre's Development and Regulation Symposium: A Comparative Study from Singapore, Hong Kong, and Mainland China, Shanghai Jiao Tong University, Shanghai, China, 21-22 November 2014 How to Cite?
AbstractAn effective criminal law framework for financial centre development consists of at least six components. First the net of criminal offences must be strong and wide. Second the potential penalties must be severe enough and tailored to deter and prevent future crimes. Third there must be responsive and efficient enforcement of the criminal law, uninhibited by corruption. Fourth the adjudicative processes must be public and capable of bringing about final outcomes in a timely manner. Fifth the framework must be able to respond adequately to cross-border and transnational criminal activity. Sixth there must be a free press and free flow of information so the public can know whether the framework is working and have confidence in it. For the most part, Hong Kong’s framework has done well on all six components. In recent times, its adjudicative processes have been weakened by a shortage of judges and lack of technological innovation in judicial services. More could also be done in enhancing the penalties and transnational components. On balance, however, the framework seems to work well with its heavily utilized money laundering and fraud-related offences and serious approach to enforcement.
DescriptionPanel IV – Crack-down on Financial Crimes and Anti-Corruption
Persistent Identifierhttp://hdl.handle.net/10722/217784

 

DC FieldValueLanguage
dc.contributor.authorYoung, SNM-
dc.date.accessioned2015-09-18T06:13:06Z-
dc.date.available2015-09-18T06:13:06Z-
dc.date.issued2014-
dc.identifier.citationAsian Financial Centre's Development and Regulation Symposium: A Comparative Study from Singapore, Hong Kong, and Mainland China, Shanghai Jiao Tong University, Shanghai, China, 21-22 November 2014-
dc.identifier.urihttp://hdl.handle.net/10722/217784-
dc.descriptionPanel IV – Crack-down on Financial Crimes and Anti-Corruption-
dc.description.abstractAn effective criminal law framework for financial centre development consists of at least six components. First the net of criminal offences must be strong and wide. Second the potential penalties must be severe enough and tailored to deter and prevent future crimes. Third there must be responsive and efficient enforcement of the criminal law, uninhibited by corruption. Fourth the adjudicative processes must be public and capable of bringing about final outcomes in a timely manner. Fifth the framework must be able to respond adequately to cross-border and transnational criminal activity. Sixth there must be a free press and free flow of information so the public can know whether the framework is working and have confidence in it. For the most part, Hong Kong’s framework has done well on all six components. In recent times, its adjudicative processes have been weakened by a shortage of judges and lack of technological innovation in judicial services. More could also be done in enhancing the penalties and transnational components. On balance, however, the framework seems to work well with its heavily utilized money laundering and fraud-related offences and serious approach to enforcement.-
dc.languageeng-
dc.publisherShanghai Jiao Tong University, Koguan Law School.-
dc.relation.ispartofAsian Financial Centre's Development and Regulation Symposium-
dc.titleHong Kong’s Criminal Law Framework for Financial Centre Development-
dc.typeConference_Paper-
dc.identifier.emailYoung, SNM: snmyoung@hku.hk-
dc.identifier.authorityYoung, SNM=rp01275-
dc.identifier.hkuros252246-
dc.publisher.placeChina-

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