According to the regulator, the initiative will benefit some 40,000 intermediaries and is designed to relieve the regulatory cost burden on the securities and futures industry.
The waiver applies to all licensed corporations, registered institutions, responsible officers and representatives. Fees in connection with new licence applications and transfers are unaffected.
SFC chief executive officer Ashley Alder said: “Market conditions have been difficult and the outlook is unclear. We hope that this two-year fee waiver will benefit all securities and futures intermediaries and will encourage licensed and registered corporations to continue to invest in their staff, including staff training and other development activities.”
A circular with full details of the fee waiver can be viewed here (opens PDF).