Reference is made to the circular issued investor identification regime for the securities market in Hong Kong (HKIDR) by the Securities and Futures Commissions (“SFC”) dated 12 December 2022. The Over-the-counter Securities Transactions Reporting Regime (OTCR) will be launched on 25 September 2023.
Under the OTCR, Taiping Securities (HK) Co Limited (“TPS”) is required to report to the SFC (a) when TPS, whether as principal or agent, makes a transfer of shares in connection with a transaction not recorded by SEHK as an on-exchange order or required to be reported to SEHK as an off-exchange trade in respect of which stamp duty is chargeable in Hong Kong, except where (i)the transaction is granted stamp duty relief (whether in full or in part) from the Inland Revenue Department, or (ii) the transfer of shares is made in accordance with the terms of a structured product or a derivative, or for the conversion of a depository receipt into shares or vice versa; or (b)when there is a deposit to or withdrawal from the TPS, whether as principal or agent, of physical share certificates.
Thus, TPS is required to collect up-to-date client identification information (“Client Identification Data” or “CID”) from you and provide to the SFC such CID relating to you as the SFC may request from time to time. In case of any update to your identification information, please notify us and provide relevant supporting documents.
Should you have any questions, please contact your account manager or the Customer Service Hotline at (852) 2543-9655 during office hours.
Client Consent on Hong Kong Investor Identification Regime (HKIDR)