SFC has decided to launch the Hong Kong Investor Identification Regime (HKIDR) on 20 March 2023. Upon the launch of the HKIDR, RRIs are required to tag the relevant Broker-to-Client Assigned Number (BCAN) to every on-exchange order and off-exchange trade reportable to the Stock Exchange of Hong Kong Limited (SEHK). It will be rejected if the orders or trades without BCANs or in an incorrect format. In addition, brokerage firms should ensure that they have obtained all written or other forms of express consent from each individual client regarding the collection, storage, processing and use of personal data in relation to such client’s BCANs and CIDs under the HKIDR. It is essential for organizations to ensure that the BCAN-CID Mapping File containing BCAN and CID of their clients is submitted to SEHK’s data repository before the cut-off time. Failure to do so will result in their clients being unable to place any buy orders.
Resource: https://apps.sfc.hk/edistributionWeb/gateway/TC/circular/doc?refNo=22EC69
