Consultation on Resolution Regime for Financial Institutions (including Financial Market Infrastructures) in Hong Kong

On 7 January 2014, the Hong Kong Monetary Authority (“HKMA”), Securities and Futures Commission (“SFC”) and Insurance Authority (“IA”) launched a 3-month consultation on establishing an effective resolution regime for financial institutions (“FIs”), including financial market infrastructures (“FMIs”). The proposed regime seeks to bring Hong Kong in line with the standards set in the “Key Attributes of Effective Resolution Regimes for Financial Institutions” (“Key Attributes”) by the Financial Stability Board (“FSB”).