Tag Archives: Consultation

Hong Kong SFC publishes consultation conclusions on asset management regulation and launches further consultation

On 16 November 2017, the Securities and Futures Commission (SFC) in Hong Kong published its consultation conclusions on proposals to enhance asset management regulation and point-of-sale transparency (the Proposals) (please click here for our e-bulletin on the SFC’s consultation). The … Continue reading

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Filed under Asset management, Hong Kong, Non-UK regulation, Regulatory Reform, Sector Updates by Herbert Smith Freehills

Spotlight on investor protection: The Hong Kong Financial Dispute Resolution Centre implements a more moderate package of reforms

The Financial Dispute Resolution Centre (FDRC) in Hong Kong has issued its conclusions to its consultation on proposals to significantly expand the jurisdiction of the Financial Dispute Resolution Scheme (FDRS), its alternative dispute resolution scheme for conflicts between financial institutions … Continue reading

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Filed under Hong Kong, Regulatory Reform

UK GOVERNMENT PUBLISHES RESPONSE ON THE LEGAL FRAMEWORK FOR SANCTIONS POST-BREXIT

On 2 August 2017, the UK Government published its response to the public consultation on the UK’s future legal framework for imposing and implementing sanctions after the UK’s exit from the European Union (see our previous blog post). The response … Continue reading

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Filed under Europe, Sanctions and Money Laundering, UK

FCA publishes proposals to extend the Senior Managers and Certification Regime

The FCA has published proposals to replace the Approved Persons Regime with the Senior Managers and Certification Regime (SMCR) currently in force for banks. Almost all financial services firms will be required to comply with the SMCR. There is a … Continue reading

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Filed under Asset management, Banking, Funds, Investment banking, Investment Funds, UK

Hong Kong SFC consults on new rules and code for open-ended fund company structure

On 28 June 2017, the Securities and Futures Commission (SFC) launched a two-month consultation (Consultation) on the detailed legal and regulatory requirements applicable to the new open-ended fund company (OFC) structure. Currently, investment funds in Hong Kong are established only … Continue reading

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Filed under Hong Kong

Hong Kong SFC closes consultation on proposed guidelines to reduce and mitigate hacking risks related to internet trading

On 7 July 2017, the consultation by the Securities and Futures Commission (SFC) on proposals to reduce and mitigate hacking risks associated with internet trading closed. The consultation follows on from the SFC’s thematic review of the resilience to hacking … Continue reading

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Filed under Hong Kong

The UK Government announces consultation on sanctions post-Brexit

The two year process of the UK's exit from the EU formally began on 29 March 2017 with notice being given under Article 50 of the Treaty on the European Union of the UK's intention to leave the EU. One … Continue reading

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Filed under Announcements, EU, Sanctions and Money Laundering

UK consults on bringing seven new benchmarks within the regulatory framework

The Government has launched a consultation on bringing additional financial benchmarks into the regulatory framework originally implemented for LIBOR.  The consultation is based on recommendations by the Fair and Effective Markets Review, a joint review by HM Treasury, the Bank of … Continue reading

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Filed under Banking, FCA, Regulatory Reform, UK, UK Government, UK Legislation

UK: Senior Managers, certification and conduct rules: a new regulatory framework for individuals in banking

The final report of the Parliamentary Committee on Banking Standards criticised not just the “firewall of accountability” around senior individuals within banks but also the regime designed to regulate them.   The joint Consultation Paper “Strengthening accountability in banking: a new … Continue reading

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Filed under Bank of England, Banking, FCA, Investment banking, PRA, Retail Banks, UK, UK Parliamentary Committees, UK Regulations

EU: MiFID Review – phase two begins

The European Securities and Markets Authority (ESMA) is consulting on the implementation of the revised Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).  MiFID II and MiFIR are expected to come into application by end 2016/early 2017, and will apply across … Continue reading

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Filed under Asset management, Banking, Client Money, EU, Europe, European Regulation, Retail Banks