Featured Product

    HKMA and SFC to Launch Survey on Sale of Non-Exchange Traded Products

    December 06, 2019

    HKMA and Securities and Futures Commission (SFC) announced plans to jointly launch the first annual survey on the sale of non-exchange traded investment products by licensed corporations and registered institutions licensed or registered for Type 1 or 4 regulated activity. The will cover the period from January 01 to December 31, 2020. The survey covers the sale of non-exchange traded investment products, such as collective investment schemes, debt securities, structured products, swaps, and repos, to individual professional investors, certain corporate professional investors, and investors other than professional investors. Entities are expected to submit completed questionnaires to SFC electronically through Web-based INteGrated Service (WINGS) in the first quarter of 2021.

    The survey will enable SFC and the HKMA to better understand market trends, identify risks associated with the selling activities of intermediaries, and coordinate their responses to address areas of common concern. The survey questionnaire will be available in Excel format in WINGS around mid-2020. The survey questionnaire includes three parts:

    • Part A (General information)—All intermediaries should complete Part A to provide their contact information and indicate whether they sold any non-exchange traded investment products during the reporting period.
    • Part B (Information on the sale of non-exchange traded investment products)—Intermediaries which sold non-exchange traded investment products during the reporting period should complete Part B to provide an overview of their selling activities, such as the transaction amount by types of investment products, top issuers of investment products sold, and clientele
    • Part C (Supplementary information about the sale of non-exchange traded investment products)—Licensed corporations  with total transaction amounts of HKD 1 billion or above and institutions with total transaction amounts of HKD 30 billion or above during the reporting period should also complete Part C, which collects information such as the transaction amount of investment products by types of investors and details of the top five investment products sold.

    Following the launch of the survey, the biennial surveys by the SFC will no longer be carried out. HKMA will also review its survey on the sale of investment products to retail banking customers and communicate with institutions separately where appropriate. HKMA and SFC will issue another circular in late 2020 providing further information about submitting the questionnaires.

    Keywords: Asia Pacific, Hong Kong, Banking, Securities, Survey, Non-Exchange Traded Instruments, Swaps, Structured Products, HKMA

    Related Articles
    News

    EBA Analyzes Impact of Unwind Mechanism of Liquidity Coverage Ratio

    EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.

    November 19, 2020 WebPage Regulatory News
    News

    ECB Outlines Views on Possible Changes to AnaCredit Rule and TLTROs

    In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.

    November 19, 2020 WebPage Regulatory News
    News

    IASB Begins First Phase of Post-Implementation Review of IFRS 9

    IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Report Examines Progress in Resolvability of Systemic Institutions

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.

    November 18, 2020 WebPage Regulatory News
    News

    EBA Benchmarks National Insolvency Frameworks Across EU

    EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Reports Assess Impact of Pandemic on Financial Stability

    FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.

    November 17, 2020 WebPage Regulatory News
    News

    RBNZ Consults on Implementation of Capital Review Changes

    RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.

    November 17, 2020 WebPage Regulatory News
    News

    IASB Announces Andreas Barckow as the New Chair from July 2021

    The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.

    November 17, 2020 WebPage Regulatory News
    News

    HKMA Consults on Capital Rules for Bank Equity Investments in Funds

    HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.

    November 17, 2020 WebPage Regulatory News
    News

    ESRB Supports Extension of Macro-Prudential Measure by Swedish FSA

    ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).

    November 17, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6153