Investor identification regime to take effect on 20 March 2023

In view of the upcoming new Hong Kong Investor Identification Regime (HKIDR) which will be effective from March 20, 2023, the Securities and Futures Commission (SFC) has published a press statement primarily addressed at investors to once again remind them that they need to submit their consent for the „collection, storage, processing and use of personal data“ BEFORE that date. Otherwise, they will not be able to trade securities on the Hong Kong Stock Exchange (HKEX) following that date – with the exemption of the sale of existing positions.
In this context, the SFC also notes that the client data transmitted to the HKEX data repository, the SEHK, is encrypted and NOT available to parties other than the Commission and the repository.