Expanded Licensing Regime For OTC Transactions

New Hong Kong regulations affecting asset managers

ANNE-MARIE GODFREY, PARTNER, AKIN GUMP STRAUSS HAUER & FELD

Following a two year consultation period, the Hong Kong Securities and Futures Commision (“SFC”) issued a Circular in October 2015 (“Circular”) setting out an expanded licensing regime covering over-the-counter (“OTC”) derivative transactions and products1 (“Expanded OTC Regime”).

Amongst other regulatory changes summarized in the Circular is the SFC’s conclusion that certain activities relating to...

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