Investor Presentaiton
Hong Kong Investor ID Regime
Overseas Booking Model/"In-Scope Client"
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Hong Kong Investor ID Regime
Issues:
Who should be treated as an "In-Scope Client"?
The SFC has revised the definition of “client" in the Code of Conduct
it will no longer includes a client of an EP's overseas affiliate
the term "client" generally refers to a party which has placed or proposes to place a securities order
through a securities trading account with a Relevant Regulated Intermediary
However, it is very common in the industry for a Hong Kong client to open a securities trading account with
a Relevant Regulated Intermediary's overseas affiliates and executes trades through the Relevant Regulated
Intermediary
It is also common for an overseas client to open accounts with an overseas entity, but places trades with a
Relevant Regulated Intermediary
are these clients in scope? who should be assigned with BCAN?
the definitions of "client" and "Specified Activities" appear to contradict paragraph 61 of the SFC's
Consultation Conclusion
DMA/electronic trading?View entire presentation