Learn more about our comprehensive legal services.
Advising our clients on different opportunities and challenges of the industry.
Developing a unique culture, which blends traditional client care with modern technology and working practices since 1851.
Stay up to date on the latest news and legal insights.
News & Insights
On 19 October 2018, the SFC published the Conclusions to Further Consultation on Proposed General Changes to Update the Securities and Futures (Financial Resources) Rules (FRR) and gazetted the proposed FRR amendments.
The one-month consultation, which was launched in July 2017, covered both proposed FRR changes that would apply generally to all licensed corporations (LCs) and specific changes relating to OTC derivatives activities. Last month’s conclusions paper relates only to the changes with general application. On the OTC derivatives front, the SFC will publish the draft amendment rules “once the drafting is completed”. Subject to the legislative process, the SFC will be implementing the FRR amendments on 1 April 2019, with the exception of amendments related to a new accounting standard which will take effect on 1 January 2019.
These changes are generally welcomed by market participants and will “streamline the existing financial resources requirements and facilitate licensed corporations’ participation in Mainland and overseas markets,” said Mr Ashley Alder, the SFC’s Chief Executive Officer.
Effective 1 January 2019
Effective 1 April 2019
For further information, here are links to:
Subscribe to Publications
Sign up for our regular updates covering the latest legal developments, regulations and case law.
For media enquiries please contact us at email@example.com.
Tel: +852 2825 9211
Click here to share this shortlist.
(It will expire after 30 days.)