The Hong Kong Monetary Authority and the Securities and Futures Commission have recently issued a joint consultation paper detailing their proposed requirements relating to the mandatory reporting and record keeping obligations for over-the-counter (OTC”) derivative transactions in Hong Kong. The CP sets out the draft proposed Securities and Futures (OTC Derivative Transactions – Reporting and Record Keeping) Rules and is the first of a series of further consultations on the subsidiary legislation under the Securities and Futures (Amendment) Ordinance 2014. Click here for a fuller briefing from our team in Hong Kong.
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