Hong Kong's SFC Continues License Fee Waiver
by Mary Swire, Lowtax.net, Hong Kong
19 March, 2014
Hong Kong's Securities and Futures Commission (SFC) has announced that the payment of annual licensing fees will be waived for another two-year period, effective from April 1, 2014.
"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 Ashley Alder, SFC's Chief Executive Officer.
The fee waiver, which should benefit more than 39,000 intermediaries, will apply to all licensed corporations, registered institutions, responsible officers and representatives.
The fees payable in connection with new license applications and transfers will, however, not be affected.A comprehensive report in our Intelligence Report series giving a country-by-country analysis of offshore investment funds, stock exchanges and trusts, with an analysis of the US QI regime, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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