Regulatory Alerts2017-01-27
Added · Updated
HKMA OTC Derivatives Trade Repository Training and Testing Schedule for Phase 2 Reporting
The Hong Kong Monetary Authority issued this directive to outline the training and testing schedule for regulated entities preparing for the Phase 2 mandatory OTC derivatives reporting requirements effective 1 July 2017. Authorized institutions, licensed corporations, and other designated entities must complete scenario and product-specific simulation tests with the HKMA Trade Repository by 31 May 2017 to ensure system readiness for all five major asset classes. The letter further specifies enrollment procedures for training sessions and mandates that entities reporting via agents verify technical compliance and obtain necessary outsourcing approvals prior to commencing reporting activities.
Topics
Share