The Hong Kong Securities and Futures Commission announces measures to optimize the cross-border wealth management connectivity and promote interaction between participating institutions and clients.

On November 13th, the Securities and Futures Commission of Hong Kong announced new optimization measures for the Cross-boundary Wealth Management Connect pilot scheme (the Connect Scheme) to facilitate communication between licensed corporations participating in the scheme (participating institutions) and their clients. Ms. Ashley Alder, the Chief Executive Officer of the Securities and Futures Commission of Hong Kong, stated that the optimization measures of the Connect Scheme will enhance the interactive communication experience between clients and participating institutions. By strengthening communication and improving information channels, investors can have access to more comprehensive information when making investment decisions, thereby supporting the continuous and sustainable development of the Connect Scheme. The Securities and Futures Commission of Hong Kong has outlined the implementation details of the optimization and client interaction in a circular. The main arrangements include: participating institutions can now obtain one-time written consent from non-Hong Kong Southbound Connect clients, with a validity period of up to one year, to explain product information based on clients' needs and selected product types; affiliated Mainland partner securities firms (partner securities firms) of participating institutions can arrange online tripartite discussions with participating institutions at their respective business locations in response to requests from Southbound Connect clients, allowing participating institutions to explain product information to their clients; after obtaining one-time written consent from Southbound Connect clients, participating institutions can provide individual investment product research reports prepared by partner securities firms. The above arrangements also apply to Northbound Connect. The Securities and Futures Commission of Hong Kong will continue to closely cooperate with the industry and regulatory authorities to further optimize the Connect Scheme and support it in becoming a key initiative to promote cross-border financial connectivity and development in the Greater Bay Area.