Hong Kong Securities and Futures Commission: The proposed paperless securities market system is set to be implemented by the end of 2025

2024-07-16 17:58:41

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ChainCatcher news, according to Jinshi reports, the Hong Kong Securities and Futures Commission today published a consultation summary regarding the subsidiary legislation, codes, and guidelines proposed for the implementation of a paperless securities market in Hong Kong. In response to market feedback, a five-year timeline is now suggested: following the completion of the relevant legislative procedures, the paperless securities market system will be implemented by the end of 2025. Companies that are originally governed by laws compatible with the paperless securities market system must transition to the new system in phases by the end of 2030. The Hong Kong Securities and Futures Commission will set a cap on certain fees related to the paperless securities market and will consult the public separately.

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