Regulatory Alerts2016-09-30
Added · Updated
Guideline on Exercising Disciplinary Power to Order a Pecuniary Penalty under Section 203C(1) of the Securities and Futures Ordinance in respect of the OTC Derivatives Regime
The Hong Kong Monetary Authority issued this guideline to specify how it exercises its power to impose pecuniary penalties on authorized institutions and approved money brokers for contravening OTC derivatives reporting, clearing, trading, or record-keeping obligations. The document outlines the relevant factors the Monetary Authority considers when determining penalty amounts for violations of sections 101B to 101E of the Securities and Futures Ordinance. This guideline came into operation on 30 September 2016 following consultation with key industry associations.
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