According to ChainCatcher, the Hong Kong Securities and Futures Commission published a consultation summary today, proposing the implementation of an unpaper securities market in Hong Kong.
In response to market opinions, a five-year timeline is now proposed: after completing the relevant legislative procedures, the paperless securities market system will be implemented by the end of 2025.
Companies whose laws are originally compatible with the uncertificated securities market system must transition to the new system in batches before the end of 2030.
The Hong Kong Securities and Futures Commission will set caps on certain fees related to the uncertificated securities market and will consult the public separately.
