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Reminder- First phase of mandating the use of Legal Entity Identifiers for reporting obligation will come into effect on 1 April

19 February 2019
Dear Participants,

The HKMA would like to draw your attention that the first phase of mandating the use of Legal Entity Identifiers (LEIs) will come into effect on 1 April 2019. Pursuant to the Joint Consultation Conclusions Paper on Enhancements to the OTC Derivatives Regime for Hong Kong published in June 2018 (Joint Consultation Conclusions), the first phase applies only to reporting entity's side of a transaction, in which all reporting entity is required to use LEI to identify itself when reporting to the HKTR starting from 1 April 2019. Reporting entities should refer to the Joint Consultation Conclusions for the scope of the requirement.

In addition, reporting entities should also be reminded that they are expected to put in place a process to request LEIs from their clients after 1 April 2019. For those clients which do not already have LEIs, this process also includes educating their clients about LEI and encouraging or assisting them to obtain one. Further details can also be found in the Joint Consultation Conclusions.

If you have any questions about the reporting operation matters (e.g. registration of LEI with HKTR), please email to hktr@hkma.gov.hk.

If you have any questions about the policy interpretation, please email to fss@hkma.gov.hk.
Last revision date:19 February 2019