SIX Extends Regulatory Coverage to Hong Kong

SIX Financial Information plans to expands its regulatory coverage to Hong Kong market participants using products authorized by the country’s financial authority.
By Joe Parsons(2147488729)
SIX Financial Information plans to expands its regulatory coverage to Hong Kong market participants using products authorized by the country’s financial authority.

Financial institutions based in Hong Kong need to report product transactions to the Hong Kong Monetary Authority (HKMA) twice annually. However the compliance challenge institutions are facing is to ensure accuracy when comparing their portfolio instrument
transaction to the published SFC list.

“As the HKMA increases its investor protection efforts, accuracy will become critical for financial institutions,” says Harald Rudolph, senior product manager, SIX Financial Information.

“Through our automated service, client advisors, asset servicing operations and compliance officers are always informed of the latest status of authorized products. This allows them to be more effective in servicing their client, while being compliant.”

According to the regulatory body, it will be able to provide an integrated solution by cross-referencing SFC-authorized products with many other local or international identifiers using a legal entity identifier.

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