SFC proposes registrar fee limits under uncertificated securities market regime

On February 24, 2025, the Securities and Futures Commission (SFC) in Hong Kong launched a consultation on proposed fee limits for approved securities registrars (ASRs) under the upcoming Uncertificated Securities Market (USM) regime. The fees include charges for facility set-up, dematerialisation, and processing securities transfers, aimed at protecting investors who cannot negotiate fees and simplifying market processes. The SFC seeks to balance costs among stakeholders while ensuring reasonable fees for investors to encourage participation in the USM. Feedback is invited until April 23, 2025, with a target implementation date in early 2026, pending legislative processes and market readiness. Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=25PR23