Friday July 15 2016
News Source: Global Exchanges
Focus: Other
Type: General
Country: Hong Kong
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/consultation/conclusion?refNo=16CP1
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have published further conclusions on proposals to introduce mandatory clearing and expand mandatory reporting for the second stage of the over-the-counter (OTC) derivatives regulatory regime
The further conclusions paper sets out the revised proposals on various technical aspects of the next stage of the regime in light of market feedback and comments.
The highlights include:
- removal of the requirement to submit PDF files when reporting transactions;
- further clarification and guidance on completing specific data fields; and
- acceptance of internal code references (in place of other counterparty identifying particulars) when reporting transactions involving individuals.
The paper also includes a revised version of the specific data fields to be completed under the expanded reporting regime, and a revised list of entities that will be regarded as financial services providers for the purpose of mandatory clearing.
Click on the link above for further details