Authorize for Hong Kong Investor Identification Regime (HKIDR)
The Securities and Futures Commission (SFC) is expected to implement an investor identification regime in the second half of 2022 and over-the-counter securities transaction reporting regime in the first half of 2023 for the securities market in Hong Kong (HKIDR).
To corporate with the HKIDR, the Bank is required to obtain consent from customer for the transfer of client identification data (CID) to The Stock Exchange of Hong Kong Limited (SEHK) and/or the SFC for reporting. This would enhance market surveillance by identifying the originators of the orders and trades.
If the customer cannot provide consent, he/she can only sell, transfer out or withdraw his/her holdings of securities at the Bank and will not be able to buy or transfer in securities after the HKIDR is implemented. The customer can only enjoy the relevant securities services until he/she has submitted the consent.
If customer would like to withdraw the consent, he/she may send written notice to the Bank at any time thereafter.
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