grace-fung

Grace Fung

Partner
Baker & McKenzie

Biography

Grace Fung is a partner in Baker McKenzie’s Financial Services group.

Practice Focus

Grace Fung’s practice focuses on advising banks, asset managers, brokers, sponsors, corporate finance advisors, payment services providers and Fintech companies on a wide variety of regulatory, compliance and corporate law matters.

Representative Legal Matters

Grace's experience includes:

  • Advice on structuring of new financial products/services, and application to the financial regulators (including the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) to obtain the necessary licences and approvals. Representative cases include:
    • Acting for Tencent Holdings Limited in the HKMA virtual bank licensing application of its joint venture, Fusion Bank Limited in 2019. This was one of the first 8 virtual banking licences granted in Hong Kong
    • Advising on regulatory matters in the Hong Kong IPO of  China Merchants Commercial Real Estate Investment Trust and assisting its REIT manager to obtain the SFC asset management licence in 2019. This was the first Hong Kong REIT listing by a PRC state owned enterprise since 2006
    • Advising a leading PRC financial conglomerate to establish its investment banking platform, and assisting in its SFC licensing application
    • Advising a PRC conglomerate in building its online FX trading platform, and assisting in its SFC and money service operators licensing applications
  • Advising asset managers, private banks and other financial institutions on ad-hoc and on-going legal and compliance matters. Representative cases include:
    • Advising various leading private banks in preparing their full suite of customer documentation and structuring their cross-border booking models
    • Advising a private bank in an investigation of the selling process involving the sale of hedge funds
    • Assisting various asset managers in routine regulatory inspections
  • Advising financial institutions, Fintech companies and technology companies on innovative business and collaboration models. Representative cases include:
    • Advising various leading banks on digitalization including online client on-boarding, robo-advisory services and provision of services via mobile app
    • Advising a leading technology company in setting up its payment aggregator and distribution services for e-commerce merchants
    • Advising an international technology company on its provision of cloud services to financial institutions
  • Advising in cross border M&A transactions. Representative cases include:
    • Advising China Galaxy International Financial Holdings Limited in its acquisition of the cash securities business of CIMB in various jurisdictions including Hong Kong, India, Indonesia, Singapore, South Korea, Thailand, the United Kingdom and the United States of America
    • Advising Mitsubishi UFJ Trust and Banking Corporation on the Hong Kong regulatory aspects in its acquisition of Colonial First State Global Asset Management from Commonwealth Bank of Australia

Professional Honors

  • Next Generation Partner (Regulatory, Hong Kong) − Asia Pacific Legal 500, 2020
  • Next Generation Lawyer (Financial Services/ Regulatory, Hong Kong) – Asia Pacific Legal 500, 2017-2019

Professional Associations and Memberships

  • Law Society of Hong Kong - Member
  • Fintech Association of Hong Kong (FTAHK) China Greater Bay - Member, Fintech and Payments Committees

Admissions

  • Hong Kong (2008)

Education

  • University of Hong Kong (LL.B.) (2005)
  • University of Hong Kong (Law) (2004)

Languages

  • Cantonese
  • English
  • Mandarin
  • Co-author, "Key regulatory issues for financial institutions in Hong Kong during the coronavirus outbreak," Baker McKenzie, Feb 2020
  • Co-author, "Securities and Futures Commission clarifies licensing requirements for family office," Baker McKenzie, Feb 2020
  • Co-author, "SFC provides licensing guidance to private equity firms," Baker McKenzie, Jan 2020
  • Co-author, "Hong Kong Securities and Futures Commission announces new framework for regulating virtual asset trading platforms," Baker McKenzie, Nov 2019
  • Co-author, "SFC clarifies regulatory standards for electronic record keeping," Baker McKenzie, Nov 2019