Platform Operators that find any forms inapplicable can indicate so in the Declaration page of the financial return.

(Key references: Declaration page of the financial return)

Yes.

(Key references: Form 1 of the financial return)

A Platform Operator is required to submit the financial return as long as it is still licensed by the SFC (that is, until revocation of its licence).  

(Key references: Paragraph 6.5 of the VATP Guidelines)

The Excel template of the latest financial return form is available for download from the SFC’s website. 

The data specification file is available for download from the SFC’s WINGS webpage, “User Guide – Submission services”.

(Key references: Paragraph 6.5 of the VATP Guidelines)

Financial returns should be submitted electronically through WINGS. You may access WINGS anytime, other than the scheduled system maintenance.

Appropriate security measures have been used in WINGS platform and WINGS mobile app for the submission of financial returns, eg, traffic packets level encryption and dual authentication using WINGS mobile app.

Please refer to the requirements specified in the Electronic submission of financial returns user guide posted on the SFC’s website. The requirements are briefly summarised as follows:

Computer requirement:
- installed with the latest version of Microsoft Excel application;
- installed with the latest versions of the Internet browsers namely Microsoft Edge or Google Chrome; and
- with broadband internet connection.

Mobile phone requirement:
- installed with the latest WINGS mobile app, which is available for download from Apple's App Store and Google's Play Store free of charge.

Please refer to the Electronic submission of financial returns user guide posted on the SFC’s website. In brief, you should have a WINGS User Account and register the WINGS mobile app with your WINGS User Account.

To e-sign the financial return, you should use the "scan QR code" function in the WINGS mobile app to scan the QR code displayed on WINGS platform when your financial return is successfully uploaded. 

The WINGS platform's Corporate Administrators of a Platform Operator are responsible for enabling and disabling the permission right of any responsible officers and approved signers to e-sign financial return on behalf of the Platform Operator. Please refer to the Corporate Account Administration User Guide and video clips posted on the SFC’s "Online Demo" webpage for details.

Note 1: A newly approved responsible officer who is also the Manager-in-charge of Overall Management Oversight will be granted with the right to e-sign financial return by default while other newly approved responsible officer(s) will not be granted with the right automatically.

Note 2: Platform Operators are reminded to maintain at least two individuals (responsible officer or approved signer) with the permission right to e-sign the financial return of the Platform Operator. 

You can obtain it by:
(i) Going to the “Sign In” page on WINGS homepage;
(ii) Selecting “Lost your account activation letter/email?”; and
(iii) Filling in the required information

Yes. A Platform Operator can apply to the SFC to approve a certain officer as signer of the financial return. Please refer to the “Officer for Signing Financial Resources Returns (other than Responsible Officer) (VA Trading Platform Operator) form” on the SFC’s website. 

It is expected that a Platform Operator or its associated entity submits a set of accounts consisting of a profit and loss account, a balance sheet, and notes to the accounts of such Platform Operator or associated entity under section 2(1)(a) or 3(a) of Schedule 3F to the AMLO.  Furthermore, an auditor’s report, which contains the auditor’s opinion on such balance sheet and profit and loss account of the Platform Operator or the associated entity, is required to be submitted in accordance with sections 6(1)(b) and 6(1)(c) of Schedule 3F to the AMLO.

(Key references: Sections 2(1)(a), 3(a), 6(1)(b) and 6(1)(c) of Schedule 3F to the AMLO)

The SFC’s new online portal WINGS, which is a common platform for making electronic submissions to the SFC, provides access to the electronic BRMQ.

A video “BRMQ – The BRMQ online form and its functions” which demonstrates how a Platform Operator or its associated entity can access the electronic BRMQ and introduces its functions is available under the “Online Demo” section of WINGS.

A PDF version showing the full set of questions is available for download.  To download, click “File” on the menu bar of the electronic BRMQ, and then “Download full blank form in PDF”. If a Platform Operator or its associated entity would like to view the full set of questions with the skip logic instructions, it may click “File”, then “Download full blank form in PDF with skip logic instructions”.

When more than one staff is completing the BRMQ, a Platform Operator or its associated entity may use the “Merge File” function to consolidate responses saved in multiple files into one merged file for submission.

To access the “Merge File” function, click “File” on the menu bar of the electronic BRMQ, and then “Merge file”. A video “BRMQ – Merging responses into a single file for submission” which demonstrates how multiple staff can provide input to the BRMQ online form and their responses can be merged for submission is available under the “Online Demo” section of WINGS.

Currently, only a responsible officer of a Platform Operator or an executive officer of an associated entity is allowed to submit the BRMQ to the SFC in WINGS.

A video “BRMQ – Submission of BRMQ in WINGS” which guides responsible officers or executive officers through the BRMQ submission process is available under the “Online Demo” section of WINGS.

The person approving the BRMQ should be a responsible officer, a Manager-in-charge of Overall Management Oversight or a Manager-in-charge of Compliance of a Platform Operator, or an executive officer of an associated entity. The name of the person approving the BRMQ and his/ her capacity should be indicated in the “Front Page” of the BRMQ.  

No. Section 2(1)(c) and 3(c) of Schedule 3F to the AMLO only require Platform Operators and associated entities respectively to prepare the BRMQ. There is no requirement for the BRMQ to be accompanied by an audit opinion. However, the BRMQ may be a good reference for the auditors of a Platform Operator or associated entity to understand its risk management measures and internal controls.

(Key references: Sections 2(1)(c) and 3(c) of Schedule 3F to the AMLO)

No. The SFC recognises that different Platform Operators may adopt different control measures, policies and procedures to achieve the internal control objectives for various operational functions and business lines. Therefore, the answer options provided in the BRMQ are neither intended to be, nor should they be construed as, an exhaustive or mandatory list of measures, policies and procedures for a Platform Operator’s internal control systems. A Platform Operator should adopt such policies and procedures as are adequate and appropriate to achieve the related internal control objectives as well as commensurate with the scope and nature of its business and its operating environment.

(i) Please call (852) 2207 9333 or e-mail its enquiries to TechEnquiries@wings.sfc.hk for assistance.
(ii) Please contact its responsible case officer in the Intermediaries Supervision Department.