On September 26, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) released a conclusions paper on enhancing the over-the-counter (OTC) derivatives reporting regime in Hong Kong. Following a consultation launched in March 2024, they proposed mandating Unique Transaction and Product Identifiers, along with the reporting of Critical Data Elements, to align with international standards and improve regulatory analysis. Respondents generally supported these proposals, leading to refinements for smoother implementation. The finalized data elements for mandatory reporting will be effective from September 2025, with further details available on the SFC and HKMA websites.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR155
