No. Licensed corporations and associated entities are required to electronically submit the BRMQ for financial years ending on or after 31 March 2019.
The SFC’s new online portal WINGS, which is a common platform for making electronic submissions to the SFC, provides access to the electronic BRMQ.
A video “BRMQ – The BRMQ online form and its functions” which demonstrates how you can access the electronic BRMQ and introduces its functions is available under the “Online Demo” section of WINGS.
When completing the electronic BRMQ form, a licensed corporation will be directed by automated skip logic to the sections applicable to it. When a licensed corporation has ticked the appropriate option boxes under “Section A1 – Business Overview” to indicate the business activities that it has undertaken during the relevant financial year, the “Index” section at the front of the form will show which applicable sections are to be completed.
Automated skip logic will also direct the licensed corporation to questions applicable to it within each relevant section based on its answers to the preceding questions in that section.
A PDF version showing the full set of questions is available for download. To download, click “File” on the menu bar of the electronic BRMQ, and then “Download full blank form in PDF”. If you would like view the full set of questions with the skip logic instructions, you may click “File”, then “Download full blank form in PDF with skip logic instructions”.
No. The SFC recognises that different licensed corporations may adopt different control measures, policies and procedures to achieve the internal control objectives for various operational functions and business lines. Therefore, the answer options provided in the BRMQ are neither intended to be, nor should they be construed as, an exhaustive or mandatory list of measures, policies and procedures for a licensed corporation’s internal control systems. A licensed corporation should adopt such policies and procedures as are adequate and appropriate to achieve the related internal control objectives as well as commensurate with the scope and nature of its business and its operating environment.
The person approving the BRMQ should be a responsible officer, a Manager-in-charge of Overall Management Oversight or a Manager-in-charge of Compliance of a licensed corporation, or an executive officer of an associated entity. The name of the person approving the BRMQ and his/ her capacity should be indicated in the “Front Page” of the BRMQ.
When more than one staff is completing the BRMQ, licensed corporations and associated entities may use the “Merge File” function to consolidate responses saved in multiple files into one merged file for submission.
To access the “Merge File” function, click “File” on the menu bar of the electronic BRMQ, and then “Merge file”. A video “BRMQ – Merging responses into a single file for submission” which demonstrates how multiple staff can provide input to the BRMQ online form and their responses can be merged for submission is available under the “Online Demo” section of WINGS.
Currently, only a responsible officer of a licensed corporation or an executive officer of an associated entity is allowed to submit the BRMQ to the SFC in WINGS.
A video “BRMQ – Submission of BRMQ in WINGS” which guides you through the BRMQ submission process is available under the “Online Demo” section of WINGS.
No. Section 3(1)(c) and 3(3)(c) of the Securities and Futures (Accounts and Audit) Rules require licensed corporations and associated entities respectively to prepare the BRMQ. There is no requirement for the BRMQ to be accompanied by an audit opinion.
(i) Please call (852) 2207 9333 or e-mail your enquiries to TechEnquiries@wings.sfc.hk for assistance.
(ii) Please contact your responsible case officer in the Intermediaries Supervision Department.
Last update: 29 May 2020