Securities & Futures Commission of Hong Kong

Financial resources rules and financial return

SFC e-FRR Submission

Q1:

What is the difference between "Digital Signature" and "Electronic Signature"?

A:

By "Digital Signature”, we mean signature supported by a public certificate recognised under the Electronic Transactions Ordinance (ETO), e.g. the Hongkong Post e-Cert (Organisational) certificate.

By “Electronic Signature”, we mean signature authenticated in accordance with our directions and instructions for the use of the online communication system, i.e. signature supported by the private e-Certificate issued by the SFC for the purpose of signing financial returns.

Section reference: e-FRR Submission

Q2:

Would it be necessary for me to obtain both Hongkong Post e-Cert (Organisational) certificate and the SFC e-Certificate?

A:

No, it is not necessary.

Section reference: e-FRR Submission

Q3:

What is the difference between the electronic submission through FinNet and the Internet?

A:

Submission through FinNet can support both Hongkong Post e-Cert (Organisational) certificate and the SFC e-Certificate.

Submission through Internet can only use the SFC e-Certificate.

Section reference: e-FRR Submission

Q4:

Do I need to do anything if my firm is already using Hong Kong Post e-Cert (Organisational) certificate and FinNet to submit financial returns?

A:

No, but you may choose to use the SFC e-Certificate and the Internet submission instead.

Section reference: e-FRR Submission

Q5:

Can the return be signed by persons other than the ROs or the Approved Signers?

A:

The requirement for either a RO or an Approved Signer to sign the FRR returns has not changed, only the mode of submission has.

Different SFC e-certificates are issued to individual ROs or Approved Signers and the SFC will hold that RO or Approved Signer accountable for any return signed by submitting his/her SFC e-certificate.

Section reference: e-FRR Submission

SFC e-Certificates

Q6:

How quickly will I receive my SFC e-Certificate after submitting my submission?

A:

In normal situation, the SFC e-Certificate will be despatched to the applicant in about 7 days.

Section reference: e-FRR Submission

Q7:

Any fee required?

A:

Issuance of SFC e-Certificate is presently free of charge.

Section reference: e-FRR Submission

Q8:

How long is the SFC e-Certificate valid for?

A:

3 years.

Section reference: e-FRR Submission

Q9:

How can I know more about the application and usage of SFC e-Certificate?

A:

e-FRR System training sessions will be arranged in August 2008 for enrolment. Regular sessions will be available round the year thereafter. For further information, please contact our e-FRR System Helpdesk at (852) 2231 1883 or visit the SFC Website at www.sfc.hk.

Section reference: e-FRR Submission

Q10:

How many SFC e-Certificates can a LC have?

A:

2 SFC e-Certificates will generally be issued to each LC (Note 5 of the Application Form). 

Section reference: e-FRR Submission

Q11:

What if a LC wants to have more than 2 SFC e-Certificates?

A:

Application submitted by the third RO/Approved Signer should be made in the normal way except that a written memo/letter should be attached to the completed application form giving the reason(s) why additional certificates are required.

Genuine business / operational needs will be accepted by SFC for the purpose of issuing additional certificates.

Section reference: e-FRR Submission

Q12:

Can ROs located overseas apply for the SFC e-Certificate?

A:

Yes. However, all correspondence, including the SFC e-Certificate and password, will only be sent to the correspondence address of the LC specified in Section A of the application form only (Note 3 of the Application Form).

Section reference: e-FRR Submission

Q13:

Do I need to complete Section C of the SFC e-Certificate Application Form if I only have one company only?

A:

Yes, all applicants should complete this section. However, if an applicant does not complete Section C, the SFC will still process the application assuming that there will only be one licensed corporation attached to the SFC e-Certificate.

Section reference: e-FRR Submission

Q14:

Can I fax the signed and completed SFC e-Certificate Application Form to the SFC?

A:

No, the SFC requires the SFC e-Certificate Application Forms to be returned to us by post or by hand to address any potential authentication issues.

Section reference: e-FRR Submission

Internet Submission

Q15:

Will it be secure if I submit financial return through the Internet?

A:

Appropriate security measure has been used in the e-FRR system, e.g. traffic packets level encryption, file level encryption and dual-factor authentication method.

Section reference: e-FRR Submission

Q16:

Do I need any special computer set up for the electronic submission through e-FRR?

A:

Please refer to the detailed baseline hardware, software, and network requirements below or in the IS e-Circulars issued on 19 June 2008 by the SFC.

PC Hardware Requirement:

  • IBM compatible personal computer;
  • Pentium IV 2.0 GHz CPU or above;
  • 100MB free hard disk space or above;
  • 512MB system memory or above;
  • USB 2.0 slot; and
  • 10/100/1000BaseT Ethernet network interface card;

PC Software Requirement:

  • Microsoft Windows 2000/ XP/ Vista;
  • Microsoft Internet Explorer 6.0 or above or FireFox 2.0 or above;
  • Microsoft Excel 2000 and/or 2003 (for preparing the FRR); and
  • SUN Java Runtime Environment 1.3 or above; (Exception : Combination of Firefox 2.0.0.x and JRE 1.3.1 does not support the e-FRR System)

Network Connection Requirement:

  • Broadband Internet connection (for submission through Internet); or
  • FinNet Ethernet Link* service (for submission through FinNet).

* FinNet Ethernet Link service is provided by FinNet.  Please visit http://www.aboutfinnet-hk.net for more details

Section reference: e-FRR Submission

Q17:

Can I prepare FRR by using the Microsoft Office Excel 2007 program?

A:

Yes, you should download and use the "Financial return form for Microsoft Office Excel 2007 and 2010" found in https://efrr.sfc.hk/public/jsp/forms.jsp for filing return.

Section reference: e-FRR Submission

Q18:

I have:

  1. forgotten my e-FRR System login password;
  2. lost/damaged my USB token;
  3. forgotten the PIN to the SFC e-Certificate; or
  4. lost my SFC e-Certificate,

what should I do?

A:

You should immediately report this to the SFC by contacting the e-FRR System Helpdesk at (852) 2283 6883. Where applicable, you may be asked to complete and return the signed original SFC e-Certificate Application Form for a re-issuance.

Section reference: e-FRR Submission

Q19:

Can Windows 98 with C/3 terminal access the new e-FRR system?

A:

No. Please refer to Question [16] above for the baseline hardware, software, and network requirements.

Section reference: e-FRR Submission

Others

Q20:

Can RO or Approved Signers apply for SFC e-Certificates after the application period as prescribed in the Circular dated 30 July 2008?

A:

Applicants submitting financial returns for existing LCs are encouraged to apply for SFC e-Certificates during the prescribed application period.

Late application may require a longer time to process.

Section reference: e-FRR Submission

Q21:

Is training compulsory?

A:

LCs (especially those currently not submitting the FRR returns electronically) are greatly encouraged to attend the training. Those unable to attend should refer to the User Manual and FAQs published by the SFC and participate in the industry testing where possible. 

Section reference: e-FRR Submission

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