Introduction
On 12 December 2018, Hong Kong’s securities regulator, the Securities and Futures Commission (SFC) issued its consultation conclusions[1] on amendments to the Hong Kong code of conduct for Persons Licensed by or Registered with the Securities and Futures Commission (Hong Kong Code of Conduct) to:
- introduce new requirements on over-the-counter (OTC) derivatives in relation to derivative risk mitigation and client clearing;
- impose conduct requirements to address risks posed by group affiliates; and
- make a consequential amendment on client agreement requirements (Consultation Conclusions).
