SFC waives licensing fees for two years
26 Mar 2012
The Securities and Futures Commission (SFC) has today announced that the payment of annual licensing fees will be waived for a two-year period, effective from 1 April 2012. This initiative will benefit about 40,000 intermediaries.
The SFC’s Chief Executive Officer, Ashley Alder said the measure is designed to relieve the regulatory cost burden on the securities and futures industry.
“Market conditions have been difficult and the outlook is unclear. We hope that this two-year fee waiver will benefit all securities and futures intermediaries and will encourage licensed and registered corporations to continue to invest in their staff, including staff training and other development activities,” he said.
The fee waiver will apply to all licensed corporations, registered institutions, responsible officers and representatives. The fees payable in connection with new licence applications and transfers will not be affected.
More detailed information concerning the fee waiver will be provided in a circular to be issued by the SFC today.
Page last updated : 1 Aug 2012