Annual update to the list of Financial Services Providers under the OTC derivatives regulatory regime
The Hong Kong Monetary Authority (HKMA) and Securities and Futures
Commission (SFC) today (23 June) issued the joint consultation
conclusions on the annual update to the list of Financial Services
Providers (FSP List) (Note 1) under the over-the-counter (OTC)
derivatives clearing regime.
Having considered the market
feedback, the HKMA and SFC will proceed with the proposed changes to
the FSP List as set out in the joint consultation paper (Note 2). The
consultation conclusions paper and the updated FSP List can be
downloaded from the websites of the HKMA and the SFC(Note 3).
Notes: The FSP List includes entities that meet
the following two criteria –
__ (a)_ They belong to a group of
companies appearing on the list of global systemically important banks
published by the Financial Stability Board, or on the list of dealer
groups which undertook to the OTC Derivatives Supervisors Group to
work collaboratively with central counterparties, infrastructure
providers and global supervisors to make structural improvements to
the global OTC derivatives markets; and (b)
clearing members of the largest central counterparties offering
clearing for interest rate swaps in the United States, Europe, Japan
and Hong Kong.
See the April 2022 joint consultation paper on
the annual update to the FSP List. The updated FSP List will be
gazetted during the fourth quarter of 2022 for implementation on 1
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