HKSFC have announced that new Short Reporting Rules will come
into force from 18 June 2012. PAC-INVEST will be revamping our
ASIC-CONNECT platform to provide Short Sell Disclosure for Hong
Kong.
Our primary goal is to enable automated submissions for our
existing clients, so that they can report their short positions in
new markets without having to make drastic changes to their
underlying systems.
Key features of the solution will be:
- SFTP or Web Services - same file format as before
with a different EXCHANGE ('HKEX') and an optional column
('OFFMARKET')
- Rolling Submissions - set up a recurring submission on our web
site which will be reported automatically at correct submission
interval without any technical involvement
- Click to enable all your existing funds for Hong Kong
reporting, or add new ones by request
- Automatically taking care of the submission intervals (weekly
or daily, if so enforced by the SFC at their discretion)
- Upon notification that daily reporting
of short position requirement is invoked in a contingency
situation, and
- the corresponding notification relating to the cessation of
daily reporting requirement
- Ensuring that the stocks submitted are on the approved list by
SFC
- Ensuring that the positions are only submitted for valid
reporting dates
- Auditing and Record Keeping for a minimum 7 years
- Ability to see complete positions details and receipt,
including the submitter information
- Handling technical issues in regulator system(s)
- Currently we handle all the technical faults of the regulators.
This means clients can submit to us and trust that the positions
will be delivered regardless of the regulator technical
problems.
Contact us
for a friendly chat and how we can help you meet your compliance
oblogations.