Recent Developments

N.P. Etches, KPMG, Hong Kong

Securities (Margin Financing) (Amendment) Ordinance 2000

The law relating to the regulation of securities margin finance activities came into effect on June 12 2000 and any entity that carries on a business of providing securities margin finance must be registered as a securities margin financier. In addition, any individual, who performs functions on behalf of a securities margin financier, is required to be registered as a securities margin financier’s representative.