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Compliance & Regulation

SFC welcomes Budget measures

The Securities and Futures Commission (SFC) has announced that it supports the measures proposed by the Financial Secretary Paul Chan in the 2020-21 budget to strengthen the competitiveness of Hong Kong as an international financial centre.

Tim Lui, Chairman, SFC, said “These measures set out in today’s budget will be beneficial to enhancing Hong Kong’s position as the hub for international asset and wealth management, global offshore renminbi business, as well as green finance.  In particular, the proposed waiver on the stamp duty for ETF market makers will reduce the transaction cost of ETFs.”

“We also appreciate the Financial Secretary’s recognition of financial regulators’ effort on shock-resistance and market surveillance.  We will continue to collaborate with the government and regulatory counterparts to ensure that Hong Kong’s regulatory framework is capable of managing systemic risks and providing protection for investors,” Liu added.