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Dear Valued Customers, 

Re: Addendum for Omnibus Client

We, CITIC Securities Brokerage (HK) Limited (“CSBHK”), have recently updated our Addendum for Omnibus Client (the “Omnibus Addendum”) setting out the terms and conditions for the transactions conducted by intermediaries on the Omnibus Client’s behalf with CSBHK. Words and expressions defined in the Omnibus Addendum shall, unless the context otherwise requires, have the same meanings when used herein. The changes are mainly the following: 

1. Trading of Chapter 37 Bond and SPAC Securities limited to professional investors

Reference is made to the circular published by the HKEX on 1st March 2022 regarding the investor eligibility requirements. The subscription and trading of SPAC’s securities and Chapter 37 Bond will be restricted to professional investors (as defined in the Securities and Futures Ordinance) only.  Where the Omnibus Client is an intermediary acting for the benefits or account or on behalf of its underlying clients to trade Chapter 37 Bond and SPAC Securities, it represents and undertakes to examine, verify and ensure its underlying clients are the professional investors, and it represents that it has already adopted control arrangements to ensure only orders from those who are eligible are accepted.   Please refer to Addendum for Omnibus Client for further details. 

2. Hong Kong investor identification regime and over-the-counter securities transactions reporting regime

Where the Omnibus Client is an intermediary acting for the benefits or account or on behalf of its underlying clients, and gives a trading order or makes a transaction falling under the scope of IDR and OTCR, the Omnibus Client represents and warrants that its undertakings under Clause 5 and Clause 14 of the Terms and Conditions for Securities Trading (Professional Investor - Institutional) shall remain true on a continuing basis.  

3.  Impact of “Qualified Intermediary” reporting services offered by CSBHK not applicable

Where “Qualified Intermediary” reporting services offered by CSBHK is not applicable, the Omnibus Client would be subject to the maximum taxation withholding rate as imposed by the U.S. Internal Revenue Service from time to time.  Please refer to Addendum for Omnibus Client for further details. 

4. Updating the indemnity clause and data disclosure clause 

The indemnity clause is revised so that the Omnibus Client also agrees to indemnify CSBHK if relevant regulator takes any disciplinary action(s) against CSBHK due to the Omnibus Client’s and/or its underlying client’s failure to comply with the relevant investor eligibility or misconduct. Data disclosure clause has also been revised to enable CSBHK to obtain necessary information for the regulatory compliance purpose.  

By conducting any transaction with or through CSBHK, the Omnibus Client is deemed to have accepted and agreed to be bound by the terms and conditions of Omnibus Addendum.  

If you have any enquiries, please do not hesitate to contact your Relationship Manager or Customer Service Hotline at (852) 2237 9338 / 400 818 0338 from 9am to 6pm, Monday to Friday.

Yours faithfully,

CITIC Securities Brokerage (HK) Limited