BEA Securities Services

1. General Questions – HK Stocks

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2. SSE/SZSE Northbound Trading

You need to fulfil the definition of investor eligibility under the SSE/SZSE and have a BEA All-in-one Account with an activated securities account and multi-currency account for settlement.

If you already have a BEA All-in-one Account,  you can simply apply for the Northbound trading service in person by visiting any BEA branch, or apply online through BEA’s Cyberbanking platform (only individual/joint accounts).

Please refer to the HKEX’s website for the details of the Northbound Trading calendar.

Subject to the above, if a trading day is a half trading day in Hong Kong market, Northbound Trading will continue until the respective Chinese Mainland market closes.

3. Electronic Public Initial Offering (eIPO)

4. Hong Kong Investor Identification Regime (HKIDR)

The HKIDR is a real name measure used for trading securities on the trading system of the Stock Exchange of Hong Kong ("SEHK"). Broker is required to disclose to SEHK a Broker-to-Client Assigned Number (“BCAN”) which includes relevant identifying information of the client at the time of submission of the client's trading transactions in accordance with SEHK's rules.

Under the OTCR, broker has to: (1) report the Client Identification Data (“CID”) of clients, including the transferee and/or transferor of shares, to the Securities and Futures Commission (“SFC”) when the broker, whether as principal or agent for clients, makes the relevant transfer; or (2) report the CID of clients to the SFC when the broker, whether as principal or agent for clients, deposits or withdraws physical share certificates.

HKIDR and OTCR are expected to be launched in the second half of 2022 and first half of 2023 respectively (subject to the final announcement of SFC and SEHK).

For individual, client identification data includes the full name of the customer in English and Chinese, the issuing country or jurisdiction of the identity document, the identity document type and the identity document number.

The SFC has specific requirements for verifying the identity of an individual client and the following priority should be observed for the collection of Client Identification Data.
(1) Hong Kong Identity Card.
(2) National Identification Document; or
(3) Passport.

Therefore,

• Hong Kong residents are required to submit their Hong Kong Identity Card
• China residents must submit their Chinese Identity Card (neither the Exit-Entry Permit for Travelling to and from Hong Kong and Macao nor the Exit-Entry Permit for Travelling to and from Hong Kong and Macao will be considered as CID-related documents)
• Macao residents must submit their Macao Identity Card

Simply put, if you open a securities account with a Hong Kong Identity Card and has not changed personal information (e.g. name), you do not need to update your identification information with us. However, if your identification information has been changed or if the account is not opened with the above identification documents in accordance with the mentioned priority, you are required to bring the original identity document to our office to update your identity record with us.

If you fail to provide the specific identification documents in order of priority within the specified time, we can only provide limited service to you after the implementation of HKIDR, i.e. only sell orders to sell your securities holdings.

For corporate client, the identity document should be collected in order of (1) a Legal Entity Identifier ("LEI") registration document, (2) a Certificate of Incorporation, (3) a Business Registration Certificate or (4) other equivalent identity document.

If you fail to provide the specific identification documents in order of priority within the specified time, we can only provide limited service to you after the implementation of HKIDR, i.e. only sell orders to sell your securities holdings.

Yes, you must provide express consent for all your securities accounts with us. For joint account, all joint account holders have to provide their consents.

Note: Submission of express consent via the online trading platform or mobile application is only available to individual who hold a Hong Kong Identity Card and does not authorize a third party to operate the account. For joint account and individual account with third party authorization, submission via paper consent form is required.

After the implementation of the HKIDR, you will no longer be able to place buy orders on the SEHK and will only be able to place sell orders to sell your securities holdings. And the normal trading services will be resumed after we have received your consent and completely updated your CID.

Note: The SFC and SEHK have announced that the Hong Kong Investor Identification Code Regime will be launched tentatively in Q4 of 2022.

If you do not receive a rejection notice from us after you have submitted your consent, you can assume that the consent was provided successfully.

In addition, if your client identification data does not pass the Exchange's validity check, we will notify you for follow up upon receipt of the Exchange's notification.

Please refer to the information provided by related parties:

Securities and Futures Commission (SFC)
https://www.sfc.hk/en/faqs/Investor-identification-and-OTC-securities-reporting

Hong Kong Exchanges and Clearing Limited (HKEX)
https://www.hkex.com.hk/Services/Trading/Securities/Overview/Trading-Mechanism/HKIDR?sc_lang=en