WINGS – new online portal
On 4 January 2019, the SFC launched a new online portal called WINGS (i.e. Web-based INteGrated Service), as a platform for making a wider range of filings (including BRMQs, FRRs, short position reports, investment product filings as well as notifications and applications).
Semi-annual financial resources returns – reminder
Licensed corporations that are only required to submit semi-annual FRRs should be aware that their next submissions are due by 21 January 2019 (HKT). Hopefully by now, an RO or the authorised signatory has already reviewed the financial returns and is ready to submit them in time for the deadline.
Licensed corporations (and their associated entities) which have a financial year end on or after 31 March will need to submit a new online BRMQ to the SFC electronically as part of their annual audited accounts submissions. Those firms with a financial year end before 31 March will however still be able to use the usual paper form BRMQ this year (but will need to use the new electronic version from next year). The new form of BRMQ is available on the SFC’s online portal WINGS. It is much more detailed than the paper form so firms should expect it to take them longer to complete.