Thursday March 29 2018
News Source: Global Exchanges
Focus: Other
Type: General
Country: Hong Kong
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=18PR33
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have issued a joint consultation on further enhancements to the over-the-counter (OTC) derivatives regulatory regime in Hong Kong.
These enhancements will mean that Legal Entity Identifiers (LEI) must be included by companies during their reporting procedures. This measure will bring Hong Kong reporting requirements will align with global standards, all entities contained in a transaction report to be submitted to the Hong Kong Trade Repository would be required to be identified by their LEI. The timeline for implementation will be staggered for different types of entities.
In addition, during the second phase of the OTC derivatives clearing regime the regulators propose to expand the clearing obligation to specified standardised interest rate swaps denominated in Australian Dollars.
The consultation paper also sets out proposed factors for determining which products would be appropriate for a platform trading obligation in Hong Kong.
For additional information please click the link above.