Update on Hong Kong Investor Identification Regime and OTC Reporting Regime
Updates/"Mapping"
asifma S
Updates/"Mapping"
Growing Asia's Markets
Clarification
Assignment of BCAN - originator or account holder?
authorised traders and account holders
advisory accounts
trust accounts
Response by the SFC
Question F.3
The SFC requires BCAN to be assigned to the account holder, regardless
of who "operates" the account.
Head Office/Branch
HKIDR should only apply to the HK branch
Question B.3
For the purposes of the HKIDR and the OTCR, our policy intent is that
an overseas branch or an overseas head office of an RRI should be
treated as an overseas affiliate, provided that (i) the Hong Kong branch
has opened and maintained separate securities trading accounts for its
overseas branches/overseas head office and orders are placed through
these accounts; and (ii) the CID of these overseas branches/overseas
head offices are distinguishable from one another (i.e. the name of the
branch should be included in the CID). If these two criteria are met, the
"Relevant Client" is the overseas branches/overseas head office but not
their clients.
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