Securities and Futures (OTC Derivative Transactions – Reporting and Record Keeping Obligations) Rules

Our Ref: B9/135C 10 July 2015 The Chief Executive All Authorized Institutions Dear Sir/Madam, Securities and Futures (OTC Derivative Transactions – Reporting and Record Keeping Obligations) Rules I write to inform you that negative vetting of the Securities and Futures (OTC Derivative Transactions – Reporting and Record Keeping Obligations) Rules (the “Reporting Rules”) by the Legislative Council has now been completed. As a result, the Reporting Rules come into operation today. Attached please find a s et of FAQs in respect of the Reporting Rules (being the finalised version of the draft FAQs jointly issued by the HKMA and the SFC on 15 May 2015), which is intended to serve as a reference to facilitate Authorized Institutions’ understanding of the reporting and record keeping requirements. In addition, the directions and instructions for use of the electronic reporting system and the submission of transaction information under the Reporting Rules issued by the HKMA can be accessed at: http://hktr.hkma.gov.hk/. Licensed banks that have already been reporting OTC derivative transactions to the Hong Kong Trade Repository under the interim reporting requirements should take note of our letter of 11 June 2015 and the supplementary guidance provided regarding the transition arrangements. If you have any questions about this letter, please contact Mr Andy Cheung at 2878-1022 or Mr Lionel Wai at 2878-1279. Yours faithfully, Karen Kemp Executive Director (Banking Policy) Encl. c.c. Financial Services and the Treasury Bureau (Attention: Mr Jackie Liu)