HK OTC derivatives reform too fast: HKIFA

Hong Kong regulators this week gave more clarity on how portfolio managers, fund trustees and managers of funds domiciled in the territory will be affected by mandatory reporting and clearing requirements with regard to over-the-counter derivatives. But some in the asset-management industry feel the Hong Kong Monetary Authority (HKMA) and Securities & Futures Commission (SFC) should slow down and take their cue from regulators in Europe and the US. Concluding its consultatio…