Regulatory Alerts2021-01-01
Securities (Brokerage Fees for Exchange Traded Funds on Foreign Underlyings) (Amendment No. 2) Rules 2021
The Financial Services Commission issued Amendment No. 2 to the 2013 Securities Rules governing brokerage fees for exchange traded funds on foreign underlyings. The amendment updates rule 3 to reference the Schedule for consideration values and deletes four reporting columns—Investment Dealer, Securities exchange, Clearing and Settlement Facility, and Total brokerage fee claimed for apportionment—from the Schedule’s tables. These streamlined requirements take effect retroactively from 3 April 2021 to standardize fee disclosures and reduce administrative reporting burdens for market participants.
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