The SFC has launched a new consultation on implementing an uncertificated securities market (USM) in Hong Kong. The consultation seeks feedback on proposed amendments to the Code of Conduct for Share Registrars and the Guidelines for Electronic Public Offerings, specifically related to the regulation of approved securities registrars under the USM environment. The consultation also includes further amendments to the Stamp Duty Ordinance. This follows a previous consultation in March 2023 on proposed subsidiary legislation for implementing the USM. Interested parties can submit their comments until December 15, 2023, through various channels. The proposed amendments aim to refine stamp duty arrangements in the USM environment.
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