Tue, Sep 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Deacons offers tips for direct marketers dealing with personal data in Hong Kong

Thursday, December 20, 2012

Beverly Chandler, Opalesque London: A piece in Deacons’ December financial services newsletter lists five things fund promoters should know about "direct marketing" in Hong Kong. Deepak Mahtani and Elizabeth MacDonald from the firm explain that the provisions of the Personal Data (Privacy) (Amendment) Ordinance (PDPAO) relating to direct marketing are expected to come into effect in April 2013.

The pair answer five key questions for fund promoters.

I regularly contact my Hong Kong clients about fund products which may interest them. Is this direct marketing?

Yes, the law defines "direct marketing" very broadly.

How can I comply with the new requirements when direct marketing to Hong Kong clients for the first time?

Before using personal data for direct marketing purposes, you (the data user) must inform the client (the data subject) that the personal data may be used for direct marketing and obtain the client's prior informed consent or indication of no objection. You must provide the client with information about the personal data to be used (e.g. name, telephone); the class of products, facilities or services to be marketed; and a response channel whereby the client can provide consent. For existing clients, there are "grandfathering" provisions: see question 4.

Do I need to get the client's consent every time I wish to mar......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali