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The Securities and Futures Commission (SFC) has today announced that the payment of annual licensing fees will be waived for another two-year period. This initiative, effective from 1 April 2014, will benefit more than 39,000 intermediaries (Note 1).
"Market participants have been operating in a stressed environment amid uncertainty over the global economy. We hope that the two-year fee waiver will help relieve the cost pressures facing the securities and futures industry," said Mr Ashley Alder, Chief Executive Officer of the SFC.
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.
Note:
- The SFC waived the annual licensing fees from 1 April 2009 to 31 March 2010 and again from 1 April 2012 to 31 March 2014.
