SFC unveils first batch of brokers joining Wealth Management Connect Pilot Scheme

The Securities and Futures Commission (SFC) today announced 14 licensed corporations (LCs) are eligible to participate in the Cross-boundary Wealth Management Connect Pilot Scheme (WMC) in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) (Note 1).

The 14 LCs are China Galaxy International Securities (Hong Kong) Co., Limited, China Industrial Securities International Brokerage Limited, China International Capital Corporation Hong Kong Securities Limited, China Merchants Securities (HK) Co., Limited, China PA Securities (Hong Kong) Company Limited, China Securities (International) Brokerage Company Limited, CITIC Securities Brokerage (HK) Limited, GF Securities (Hong Kong) Brokerage Limited, Guosen Securities (HK) Brokerage Company, Limited, Guotai Junan Securities (Hong Kong) Limited, Huatai Financial Holdings (Hong Kong) Limited, SDICS International Securities (Hong Kong) Limited, Shenwan Hongyuan Securities (H.K.) Limited and Zhongtai International Securities Limited.

These LCs represent the first batch of brokers to offer cross-boundary investment services for GBA investors. They will work in partnership with their Mainland partner brokers which have been confirmed by the relevant Mainland regulatory authorities (Notes 2 and 3).

“Today’s announcement marks another significant milestone for the brokerage industry and the WMC scheme in terms of enhancing the connectivity of financial markets in the GBA and fostering Hong Kong’s wealth management business,” said Ms Julia Leung, Chief Executive Officer of the SFC.

“The SFC will continue to work with stakeholders to further enhance and expand the WMC scheme, as well as addressing the evolving cross-boundary needs of investors and the industry,” added Ms Leung.

The SFC will closely monitor the operation of the WMC and continue to update the list of eligible LCs on the dedicated SFC webpage.

Notes:

1. For details on the eligibility criteria, please refer to the SFC’s circular on Participation in Cross-boundary Wealth Management Connect Pilot Scheme dated 24 January 2024.
2. The People’s Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, the Hong Kong Monetary Authority, and the Monetary Authority of Macao published the amendments to the implementation arrangement for the WMC scheme on 24 January 2024.
3. The China Securities Regulatory Commission will announce the list of confirmed Mainland partner brokers separately.