On 07 Aug 2024, the HKMA revised the Securities Return to expand reporting requirements for Type 13 regulated activities under the SFO, while maintaining the existing bi-annual submission frequency. The revised template supersedes four prior circulars and will be integrated into the STET system, with the first reporting period covering July–December 2024.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
SFC Regulation of Virtual Asset Trading Platforms: The Emerging Hong Kong Framework
SFC proposes new regulation of virtual assets through licensing of operators of cryptocurrency and other digital asset trading platforms
Market Misconduct Tribunal: A Guide to Penalties and Other Consequences for Misuse of Insider Information
Market Misconduct Tribunal proceedings for mishandling of insider information can result in fines and disgorgement orders
SPOTLIGHT ON
FAMILY OFFICES
Introduction
On 07 Aug 2024, the Hong Kong Monetary Authority (HKMA) issued revised reporting requirements for the Securities Return, incorporating industry feedback to expand coverage of regulated activities under the Securities and Futures Ordinance (SFO).
Key Regulatory Changes
The revised Securities Return expands reporting obligations to capture additional information relating to Type 13 regulated activities (providing depositary services for relevant collective investment schemes), which were newly introduced under the SFO. This represents a material amendment to the existing reporting framework to align with updated regulatory scope.
Reporting Mechanics
The reporting frequency remains unchanged at bi-annual submissions (every 6 months), with institutions required to submit the return not later than 21 days after the end of June and December each year. The first reporting period for the revised template commences on 1 July 2024 and concludes on 31 December 2024, with the initial submission deadline set for 21 January 2025.
System Integration and Supersession
The revised Securities Return template will be incorporated into the STET (Submission Through Electronic Transmission) system, which will become available later in 2024. This revised template supersedes four previously issued HKMA circulars on the Securities Return, as detailed in Annex 3 of the document.
View the full article:Source
