The past three years have seen a flurry of activity in Hong Kong when it comes to competition law. The Competition Ordinance came into full effect in December 2015, and less than a year later, Brent Snyder joined the Hong Kong Competition Commission as CEO. By August 2017, the Commission had already taken its first two cases to the Competition Tribunal, and added a third since. Snyder, who is justifiably proud of a track record that is “very impressive for a new competition agency,” has greater plans still; he wants to build a mature and sophisticated agency that is capable, collaborative and complete. In a wide-ranging interview with the Hong Kong Lawyer that forms the basis of this month’s cover story, Snyder reminisces on an early career that began, of all places, in Hollywood; talks about his immediate goals for the Competition Commission, as well as how he plans to achieve them; and also describes the legacy he wishes to leave. “I already care about the city very much, so I would like to leave having accomplished good things for Hong Kong’s consumers and the business community.”
Moving on, then, to our three feature articles, where we touch on a wide variety of topical subjects. In the first article on the concept of “good faith” (p.34), the author notes that while the common perception of most common lawyers remains that there is no general doctrine of good faith in commercial dealings, a gradual turn in the judicial prism is slowly shifting that perception. In another article on capital markets (p.40), the authors contend that while the new listing regime for companies from emerging and innovative sectors recently launched in Hong Kong will make Hong Kong Stock Exchange a more attractive jurisdiction for listings, it may be a different story from the investors’ perspective. Finally, we have an article that looks at how the Court of the First Instance’s ruling on an application for summary judgment in the Taching Petroleumcase is a landmark in the use of private remedies in Hong Kong for breach of competition law.
In our Leisure Section, we have an article about Raymond Chak, a practitioner with a passion for photography; he describes how his career and his love for photography complement each other. We hope you enjoy this issue of the journal, and do not hesitate to contact me with your feedback.