The Securities and Futures Commission (SFC) today approved the following six companies as approved securities registrars (ASRs) with effect from 16 November 2026, when the uncertificated securities market (USM) regime takes effect.
- Boardroom Share Registrars (HK) Limited
- Computershare Hong Kong Investor Services Limited
- Computershare Investor Services Limited
- Hongkong Managers and Secretaries Limited
- Tricor Investor Services Limited
- Union Registrars Limited
All of the above companies have been approved to continue providing the registrar services that they currently provide.
Of the six ASRs approved today, Computershare Hong Kong Investor Services Limited and Tricor Investor Services Limited have been approved to provide USM-related services (Note 1). They will be the first batch of ASRs who can provide such services. Other applications will be reviewed and considered in due course. Details of the approvals granted are accessible at the SFC’s dedicated webpage on USM.
Upon implementation of the USM regime, listed issuers of prescribed securities (Note 2) will be required to have an ASR at all times to maintain their register of holders.
For listing applicants whose securities are listed after 16 November 2026 and in uncertificated form, they must appoint an ASR that is approved to provide USM-related services. For existing issuers, they will have to participate in the new regime within five years (Note 3). Listing applicants and existing issuers should therefore continue liaising with their respective securities registrars to facilitate their preparations for participation in the USM regime.
Notes:
- USM-related services refer to the provision and operation of systems for evidencing and transferring legal title to securities, and the provision of related services (eg, the conversion of securities from paper to paperless form).
- Prescribed securities refer to securities listed on the Stock Exchange of Hong Kong Limited that are: (i) shares; (ii) depositary receipts; (iii) stapled securities; (iv) units in authorized collective investment schemes; and (v) subscription warrants or rights under a rights issue, to subscribe for any of (i), (ii) or (iii).
- Securities that are constituted under the laws of Bermuda, the Cayman Islands, the Chinese Mainland or Hong Kong must participate in the USM regime within five years.
