[Hong Kong] Circular to intermediaries, responsible officers and licensed representatives Waiver of annual licensing fees
SFC Circular, 19 Mar 2021
The SFC will waive the annual licensing fees of all intermediaries and licensed individuals incurred during the period from 1 April 2021 to 31 March 2022. Payments of all other fees, including for licence applications and transfers, will not be affected.
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[Hong Kong] Sixth Issue of Regtech Watch
HKMA Circular, 19 Mar 2021
HKMA published the sixth issue of Regtech Watch which focuses on how technology applications can help authorized institutions manage risks associated with treasury activities, encompassing operational risk, legal risk, liquidity risk and market risk. It illustrates how Regtech may strengthen risk management controls in treasury operations which involve the scrutiny of a large volume of trading data spanning multiple systems.
[Hong Kong] Legislative amendments for implementation of uncertificated securities market regime and enhancement of over-the-counter derivative regulatory regime gazetted
HKSAR Press Releases, 19 Mar 2021
The Government published the Securities and Futures and Companies Legislation (Amendment) Bill 2021 (the Bill) in the Gazette. The Bill seeks to amend the Securities and Futures Ordinance, the Companies Ordinance and other existing legislation to implement a complete uncertificated securities market (USM) regime under a revised operational model, as well as to clarify the scope of regulated activities for the new over-the-counter (OTC) derivative licensing regime. It will be introduced into the Legislative Council for First Reading on March 24.