HKMA and the Securities and Futures Commission (SFC) issued a joint consultation on further enhancements to the over-the-counter (OTC) derivatives regulatory regime in Hong Kong. Comments can be submitted to HKMA or SFC on the updated list of Financial Services Providers by May 25, 2019 and on the other proposals by June 25, 2019. The consultation ensures that the Hong Kong reporting and clearing regimes keep up with international developments and remain relevant and appropriate.
To align with global standards, the regulators propose the following:
- That transactions to be submitted to the Hong Kong Trade Repository for the reporting obligation would be required to be identified by Unique Transaction Identifiers with the structure and format as set out in the Technical Guidance issued by CPMI and IOSCO
- To remove 17 jurisdictions from the list of designated jurisdictions for the masking relief of the reporting obligation, in view of the recent clarification by FSB
- To update the list of Financial Services Providers under the OTC derivatives clearing regime
Keywords: Asia Pacific, Hong Kong, Banking, Securities, OTC Derivatives, Reporting Requirements, UTI, Financial Service Providers, Clearing, Trade Repository, SFC, HKMA
Previous ArticleBoE Publishes Actual and Indicative MREL for Banks in UK
APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.
EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).
HM Treasury notified that, after considering all responses, the government intends to bring forward further legislation, when the Parliamentary time allows, to address issues identified in the consultation on supporting the wind-down of critical benchmarks.
EIOPA launched the 2021 stress test for the insurance sector in EU.
UK authorities jointly published the third edition of Regulatory Initiatives Grid setting out the planned regulatory initiatives for the next 24 months.
EC is requesting feedback on the proposed Commission Delegated Regulation on the content, methodology, and presentation of information that large financial and non-financial undertakings should disclose about their environmentally sustainable economic activities under the Taxonomy Regulation.
OSFI has set out the near-term priorities for federally regulated financial institutions and federally regulated private pension plans for the coming months until March 31, 2022.
Under the Italian G20 Presidency, BIS Innovation Hub and the Italian central bank BDI launched the second edition of the G20 TechSprint on the lookout for innovative solutions to resolve operational problems in green and sustainable finance.
ACPR published Version 1.0.0 of the RUBA taxonomy, which will come into force from the decree of January 31, 2022.
EBA proposed the regulatory technical standards on a central database on anti-money laundering and countering the financing of terrorism (AML/CFT) in EU.