The outcome of the HKMA and TMA consultation will be a turning point for financial services firms preparing for life after LIBOR, says international law firm Herbert Smith Freehills.
The HKMA's guidance note expressly signals its desire to encourage and facilitate cooperation in investigations and enforcement proceedings, noting time, cost and resource savings for the regulator and institutions or individuals concerned.
Blockchain technology is ushering in a new epoch of monetary oversight, creating opportunities and challenges for regulators in a world disrupted by the advent of cryptocurrencies.