What's New
1 Jan 2024
[Update of Bank Account Details]
Our company’s bank account maintained with Standard Chartered Bank (Hong Kong) Limited will stop accepting client’s deposit with effect from 1 February 2024.
You may continue to deposit fund to one of our other bank accounts by cheque made payable to “Kingsway Financial Services Group Limited” or bank transfer, the details are as follows:
17 Nov 2023
[Reduction of Stamp Duty on Stock Transactions]
According to the “Stamp Duty (Amendment) (Stock Transfers) Bill 2023”, the rate of stamp duty payable on contract notes for the sale or purchase of Hong Kong stocks will be reduced from 0.13% to 0.1% of transaction amount with effect from 17 November 2023.
For details, please refer to the circular by HKEX:
1 Dec 2022
[Amendments to the Listing Rules to Implement the New Trading Fee Structure]
According to the circular issued on 1 November 2022 by The Stock Exchange of Hong Kong Limited (“HKEX”), with effect from 1 January 2023 (“Effective Date”), the trading fee will be adjusted from 0.005% to 0.00565% per side of the consideration of the transaction.
For details, please refer to the circular by HKEX:
https://www.hkex.com.hk/News/Market-Communications/2022/221101news?sc_lang=en
3 May 2022
[Consent and client identification data update to (i) the Hong Kong Investor Identification Regime; (ii) the Over-the-counter Securities Transactions Reporting Regime; and (iii) Fast Interface for New Issuance (FINI) System]
The Securities and Futures Commission (“SFC”) will implement an investor identification regime at trading level for the securities market in Hong Kong (“HKIDR”), and will introduce an over-the-counter securities transactions reporting regime for shares listed on the Stock Exchange of Hong Kong (“OTCR”). Kingsway Financial Services Group Limited (“KFSGL”) will be subject to the HKIDR and/or the OTCR upon implementation of the regimes.
In addition, Hong Kong Exchange and Clearing Limited proposed to introduce the Fast Interface for New Issuance (FINI) system to streamline and digitalize Hong Kong’s IPO settlement process. Exchange Participants (including KFSGL) will be allowed to identify subscribers for shares in public offers with the Broker-to-Client Assigned Number (“BCAN”), once FINI is launched.
In order for KFSGL to comply with HKIDR, OTCR and/or the FINI requirements, we are writing to obtain (i) your consent to personal data processing and/or (ii) to request you to update your client identification data (“CID”) according to the Order of Priority requirement of the SFC set out in Client Identification Data Update Form (“Order of Priority”).
(i) Personal Information Collection Statement
Please read carefully the personal data consent, sign and return.
(ii) Client Identification Data (CID) Update Form
If there has been change(s) to your CID which you have not yet notified us, or if you have not provided your CID according to the Order of Priority, please provide the CID as set out in this document, sign and return the relevant documents.
You do not need to submit this form, if your client identification data kept in KFSGL is up-to-date according to the Order of Priority. We shall assume that your CID remains unchanged and you have provided your CID according to the Order of Priority since you last updated your CID with us if we do not receive your completed and signed CID update form in accordance with the timeline below, until your further notice.
Please return a signed and completed the relevant document(s) in one of the following manners:
1. By post: 7/F, Tower One Lippo Centre, 89 Queensway, Hong Kong (Attention to: Operations Department)
2. By email: od@sunwahkingsway.com
3. By fax: (852) 2877 1026
Failure to provide us with your personal data or consent as described above may mean that we will not, or will no longer be able to, as the case may be, carry out your trading instructions or provide you with securities related services (other than to sell, transfer out or withdraw your existing holdings of securities, if any).
21 Jan 2022
[Upgrade of Kingsway Financial Mobile Trading App]
The new version of Trading App (iPhone & Android) can be downloaded from App Store (iOS) / Google Play (Android). Starting from 14 February 2022, users must upgrade their Trading App to the latest version to continue using the Trading App (Users are unable to login with previous versions).
The following functions have been added to new Trading App:
- New Interface
- Quick Order Placing
- Mobile Device Binding up to 3 Devices
14 Dec 2021
[HK Exchange News]
Pursuant to the Operational Trading Procedures for Options Trading Exchange Participants of the Stock Exchange the trading fee tier levels of the stock option classes will be changed, effective from 3 January 2022, pls. click for the details.
1 Dec 2021
[Commencement of the Payment of Financial Reporting Council Transaction Levy from 1 January 2022]
Reference is made to the circular of The Stock Exchange of Hong Kong Limited (the “Exchange”) dated 28 June 2021 in relation to the payment of Financial Reporting Council transaction levy (“FRC Transaction Levy”).
Starting from 1 January 2022, payment of levies payable by sellers and purchasers of securities to the Financial Reporting Council will commence. FRC Transaction Levy is applicable to all sale and purchase of securities (admitted to trading, listed, or approved to be listed on the Exchange) recorded on the Exchange or notified to the Exchange. FRC Transaction Levy is calculated at 0.00015% per side of the consideration of a transaction (rounded to the nearest cent).
29 Jun 2021
[Notice of the Change of the Rate of Stamp Duty on HK Stock Transaction]
According to the “Revenue (Stamp Duty) Bill 2021”, the rate of stamp duty payable on contract notes for the sale or purchase of Hong Kong stocks will be increased from 0.1% to 0.13% of transaction amount with effect from 1 August 2021. We will revise the rate of stamp duty to 0.13% of transaction amount accordingly.
3 May 2021
[Notice of New Arrangement for Two-Factor Authentication]
In order to comply with the Securities and Futures Commission’s requirements and enhance the protection of client’s assets, starting from 5 June 2021, we will not deliver a one-time password by email to your registered email(s) for you to login to your internet trading account(s). Instead, a one-time password will be delivered via short messaging service to a client’s registered mobile phone number for authentication.