SFC to receive personal details of mainland Chinese investors trading Hong Kong shares via stock connect
- The Chinese regulator will share the identity of mainland traders using the stock connect with their Hong Kong counterpart
- Watchdogs say the move will enhance cross-border security and help stamp out misconduct
Mainlanders who trade Hong Kong shares via the stock connect scheme will have their personal information shared with the Hong Kong regulator for the first time, under a new agreement.
The China Securities Regulatory Commission will collect and pass on mainland investors’ information to the Hong Kong’s Securities and Futures Commission when they are trading through the so-called “southbound” channel of the stock connect linking the Hong Kong, Shanghai and Shenzhen markets.
“The regime helps enhance market surveillance and combat cross-boundary market misconduct under stock connect,” the SFC said in a statement on Friday, the same day the two regulators entered into the agreement.
The new regime will start at the end of the first quarter of next year, the statement said.
The identification data of international investors buying and selling via the “northbound” arm of the stock connect has been available to the CSRC since September 26.
