The Securities and Futures Fee (SFC) and the Hong Kong Financial Authority (HKMA) have introduced the completion of their annual updates to the record of acknowledged monetary providers suppliers beneath the over-the-counter (OTC) derivatives regulatory regime, based on apps.sfc.hk.
Annual Evaluation and Updates
The annual replace course of is a part of an ongoing effort to make sure that the record of monetary providers suppliers stays present and correct. This record is important for sustaining the integrity and oversight of the OTC derivatives market in Hong Kong, serving to to mitigate systemic dangers and improve market transparency.
Significance of Compliance
Monetary establishments on this record are required to adjust to stringent regulatory requirements set forth by each the SFC and HKMA. These requirements embody sturdy danger administration practices, satisfactory capital reserves, and clear reporting mechanisms. The up to date record serves as a vital reference for market individuals to determine compliant counterparties for his or her OTC derivatives transactions.
Market Implications
The updates to the record are anticipated to have important implications for the OTC derivatives market in Hong Kong. By guaranteeing that solely compliant and financially sturdy establishments are acknowledged, the SFC and HKMA goal to bolster market confidence and stability. Furthermore, these updates are according to worldwide regulatory requirements, additional aligning Hong Kong’s monetary market with world greatest practices.
Conclusion
The SFC and HKMA’s dedication to updating the record of monetary providers suppliers beneath the OTC derivatives regulatory regime underscores their dedication to sustaining a clear and steady monetary market. These updates are important for safeguarding the pursuits of market individuals and guaranteeing the general well being of the monetary system.
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