Authors: I-Ping Soong, Chong Liew, Evan Lam, Gigi Kong

HKMA and SFC consult on enhancements to the OTC derivatives reporting regime

On 22 March 2024, the HKMA and the SFC finally released their Joint further consultation on enhancements to the OTC derivatives reporting regime for Hong Kong to mandate (1) the use of Unique Transaction Identifier, (2) the use of Unique Product Identifier and (3) the reporting of Critical Data Elements and Joint consultation conclusions on revising the list of designated jurisdictions for the masking relief.