With the first half of 2018 bringing in numerous regulatory updates, we share with you regulatory developments from all major financial regulators including the Basel Committee on Banking Supervision (BCBS), the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) for the month of June. Key updates include:
- The SFC's proposals to impose margin requirements for non-centrally cleared over-the-counter (OTC) derivatives
- The HKMA's implementation of a 'Cyber Resilience Assessment Framework'
- The Hong Kong Insurance Authority (IA)'s 'Circular on key findings of Anti-Money Laundering and Counter-Financing of Terrorism Onsite Inspection Visits to Authorised Insurers'
- Guidance on two-factor authentication for third-party payment platforms
- Consultation to enhance OTC derivatives regime concludes