Tue, Mar 18, 2014

SFC announced Second Waiver Period regarding the Annual Licensing Fees

The SFC has announced that the annual licensing fees for Annual Returns will be waived for another two-years, effective from 1 April 2014 to 31 March 2016 (Second Waiver Period). The two-year fee waiver will apply to all licensed corporations, registered institutions, responsible officers and representatives, and will help relieve the cost pressures facing the securities and futures industry.

Annual licensing fees are usually due within 1 month of the licensing anniversary date of a Licensed Company or licensed representative. However, in the case of the Second Waiver Period, the licensing fees will be waived for 2 years. Please note that the Annual Returns for a Licensed Company or licensed representative still must be submitted.

The payment of all other fees due and payable to the SFC, including licence application and transfer fees, will not be affected.

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