Important Update on Investor Identification and OTC Securities Transactions Reporting

Important Update on Investor Identification and OTC Securities Transactions Reporting

Important Update on Investor Identification Code Compliance

Dear Members,

In light of the Securities and Futures Commission's announcement regarding the "Investor Identification and Over-the-Counter Securities Transaction Reporting," commonly referred to as the " HKIDR," it is imperative that brokers secure client consent prior to submitting any identification document information to the Hong Kong Stock Exchange and the Securities and Futures Commission. This measure is necessary to ensure compliance with the Personal Data (Privacy) Ordinance.

Please be advised that if clients do not complete the consent form, they will be restricted from making future stock purchases or deposits, as per the Securities and Futures Commission's regulations. They will only retain the ability to sell or withdraw their existing stock holdings. The implementation of the Investor Identification Code is anticipated by the end of this year.

For a detailed overview of the Securities and Futures Commission's initiatives, please click here to view the introductory video.

Best regards, 
Hong Kong Securities and Futures Professionals Association