On June 27, 2024, the Securities and Futures Commission ("SFC") and Hong Kong Monetary Authority ("HKMA") issued joint consultation conclusions on the annual updates to the list of Financial Services Providers (FSP List) under the over-the-counter ("OTC") derivatives clearing regime.
Having considered market feedback, the SFC and HKMA will implement the proposed changes to the FSP List as set out in the joint consultation paper with a minor modification to reflect a post-consultation change in the status of an existing FSP. The consultation conclusions paper and updated FSP List are available on the websites of the SFC and HKMA.
The updated FSP List will be gazetted during the fourth quarter of 2024 for implementation on January 1, 2025.
This article was generated using SAMS, a proprietary artificial intelligence technology under development by Timothy Loh LLP and its affiliates. This article does not constitute legal advice and should not be relied upon by any person. Only the original text, which is hyperlinked to this article, should be regarded as definitive.
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