Hong Kong has a long way to go before it is compliant with over-the-counter derivatives rules agreed upon by the Group of 20 nations, but progress is being made. The findings of a Hong Kong Monetary Authority and the Securities and Futures Commission joint consultation revealed that respondents generally supported expanding oversight and regulation to include intermediaries in over-the-counter derivatives space. The bodies plan to implement a transitional arrangement until a new licensing process is instituted.

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