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On 15 May 2013, the Securities and Futures Commission (SFC) published a Consultation Paper on the Proposed Amendments to the Professional Investor Regime and the Client Agreements Requirements (Consultation Paper). Amongst other things, the SFC revisits the...

Clifford Chance, in conjunction with the Asia Securities Industry & Financial Markets Association (ASIFMA), has conducted a survey of eight key Asian jurisdictions to obtain an overview of the insolvency regimes and resolution powers available in relation...

International regulators have now published a ‘near-final’ policy framework setting minimum standards for margin requirements for uncleared derivatives. “Margin requirements for non-centrally cleared derivatives - Second consultative document”...

The CFTC, the SEC and prudential regulators in the United States have made significant progress on the detailed rules to implement the swap market reforms contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The principal changes are in...

On 24 July 2012, the SFC published a consultation paper commencing a two month consultation on a proposed regulatory framework for electronic trading, including internet trading, direct market access (DMA) and algorithmic trading. Electronic trading has been...

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) launched a public consultation paper relating to the proposed regulatory regime for the OTC derivatives market in Hong Kong last year on 17 October 2011 (the Consultation...

Following consultation with the Securities and Futures Commission (SFC) and The Hong Kong Association of Banks (HKAB), the Hong Kong Monetary Authority (HKMA) issued a circular on 12 June 2012 to provide further guidance and clarification to facilitate the private...

The recent announcement by the Government of Hong Kong of a two month consultation on proposed changes to the Hong Kong tax regime in order to promote the development of an Islamic bond market in Hong Kong is a timely reminder of the on-going development of Shari'a...

The ISDA Master Agreement should be interpreted strictly in accordance with its written terms, without implying additional rights or obligations that are not expressly spelt out, according to the Court of Appeal.  In particular, a payment obligation is suspended...

On 27 March 2012, the Financial Services and the Treasury Bureau (FSTB) of the Hong Kong Special Administrative Region, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) jointly published Progress in the Regulation of Over-the-counter...