Update on Hong Kong Investor Identification Regime and OTC Reporting Regime
Significant Wins
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Significant Wins
Growing Asia's Markets
This clears up the "confusion" by paragraphs 61-64 of the consultation conclusion, which provides,
amongst other things, that:
"under the HKIDR, the RRI must assign BCAN to the Relevant Client. When the RRI routes these orders
abroad to an overseas broker, the RRI must include the client's BCAN in the securities order and put in
place arrangements with that overseas broker so that the securities order can be transmitted together
with the BCAN to the EP"; and
"failure by a RRI to provide a BCAN in a securities order to its overseas brokers for onward
transmission to an EP or to establish arrangements with its overseas brokers for onward transmission
of the BCAN may constitute a breach of the Code of Conduct".
See also FAQ B.4
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