Securities Sector Subsidies Set

The subsidy scheme for the securities industry under the second round of the Anti-epidemic Fund will be launched and open for applications on May 25, the Financial Services & the Treasury Bureau announced today.

Secretary for Financial Services and & the Treasury Christopher Hui said under the COVID-19 pandemic, small and medium-sized securities intermediaries and brokers mainly serving retail customers have been adversely affected to a certain extent.

The Government will provide special subsidies under the second round of the Anti-epidemic Fund to alleviate their operating burden and pressure, he added.

Stock Exchange of Hong Kong (SEHK) Category B and C participants or Hong Kong Futures Exchange (HKFE) participants as at March 31 and still in operation at the time of application are eligible to receive a one-off subsidy of $50,000 per company.

SEHK Category A participants (ie securities firms ranked in the top 14 by market turnover) are not eligible for any subsidy even if they are HKFE participants.

Meanwhile, individuals licensed with the Securities & Futures Commission (SFC) as at March 31 are eligible to receive a one-off cash subsidy of $2,000 per person.

The bureau has appointed the Hong Kong Securities & Investment Institute to disburse the subsidies.

The scheme will be open for online or paper applications from May 25 to September 30.

Applicants are only required to submit basic identification information, the SFC Central Entity number and bank account information.

Click here for application details.