Clifford Chance

(Reform) too big to fail? Hong Kong resolution regime and regulations take effect on 7 July 2017

16 May 2017

The Financial Institutions (Resolution) Ordinance (FIRO) and the Financial Institutions (Resolution) (Protected Arrangements) Regulation (Protected Arrangements Regulation) are both set to become effective on 7 July 2017.

FIRO provides, for the first time in Hong Kong, a comprehensive menu of options for the resolution of failing financial institutions and is a key plank in reforms aimed at maintaining Hong Kong's reputation as a leading financial centre.

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