On Apr. 17, HK SFC,HKMA issued proposal re services providers list.
HK SFC and HKMA issued a joint consultation on annual update to the list of financial services providers (FSP) under the over-the-counter (OTC) derivatives clearing regime.
FSP lists have been introduced to identify major OTC derivatives dealers outside HK.
Following annual review, proposes adding Morgan Stanley Bank, N.A. to the FSP list.
Morgan Stanley is a member of a global systemically important bank (G-SIB), a G15-dealer group, become a clearing member of an interest rate swap central counterparty.
The proposed changes would take effect on Jan. 1, 2026, following feedback, approval.
Effectiveness
The consultation is open for comments until May 16, 2025.
