IB Hong Kong based accounts transferred to newly formed IB HK

def said:
You will rarely see me banging the drum of a regulator but calling the HK regulators incompetent is ludicrous....
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100% agree with your views on SFC, speaking as someone who was licensed by them for ~ ten years. Policing as zealously as any in the developed world.

I don't share the concern of other posters of a perceived increased risk on HK assets, given the conservative margining levied by IB on HKEx derivatives. If IB is moving towards a type of country risk segregation, I wouldn't automatically conclude that's negative.

There's no shortage of well-established brokerages in HK, plus the new mainland players, for those concerned.
 
dunleggin said:
100% agree with your views on SFC, speaking as someone who was licensed by them for ~ ten years. Policing as zealously as any in the developed world.

I don't share the concern of other posters of a perceived increased risk on HK assets, given the conservative margining levied by IB on HKEx derivatives. If IB is moving towards a type of country risk segregation, I wouldn't automatically conclude that's negative.

There's no shortage of well-established brokerages in HK, plus the new mainland players, for those concerned.
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The problem is HK clients lose all non HK investment protection once move the account to IB HK. For example, I own US stock, if I agree to move my account to IB HK, my US stock instantly has zero protection. IF IB just breaks, then my US stock would be a total lose.
 
Anyone like me still doesn't transfer to IB HK yet? I think IB has the right to determine my account but not transfer my account to HK IB without my permission. Then I am still protected as long as I never agree.
 
There are a few sceneries which we will decide shortly and communicate to clients who have not agreed to transfer their accounts. None will allow you to remain with IB LLC if you are a resident of HK.
 
def said:
There are a few sceneries which we will decide shortly and communicate to clients who have not agreed to transfer their accounts. None will allow you to remain with IB LLC if you are a resident of HK.
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It is clear that it is IB decision to claim forcing all hk clients move to hk ib so IB doesnt need to provide any investment insurance for all hk clients.
 
Why HK gov doesnt ask etrade, scottrade or Charles to do this but just IB, while IB HK exists for 20 years already? My best educational guess is that US gov knows IB is at melt down risk and US gov doesn't want to pay to any non US people, so force IB to do this to Hong Kong and same for a lot of other IB offices UK and Canada.

IB melt down, why not?
 
I am only responding to you as someone else with a tin foil hat may believe your jibber jabber.

You obviously do not do your homework, understand who is and who isn't regulated in HK nor know who offers access to markets other than the US. You might also do some additional digging (hint google or in your case baidu) and check out which of the other firms you mentioned recently announced the closing of their HK and Singapore offices and relinquishment of their licensing.

For our financial health - it is no secret that the IB Group is sitting on over $5 BILLION USD in equity capital, financials are reported publicly quarterly and with monthly metrics you can also get a feel for how things are going on the brokerage side. Nevertheless, if you are so fearful, we do not charge clients to close their account and you are free to do so anytime.
 
GloriaBrown said:
Why HK gov doesnt ask etrade, scottrade or Charles to do this but just IB, while IB HK exists for 20 years already? My best educational guess is that US gov knows IB is at melt down risk and US gov doesn't want to pay to any non US people, so force IB to do this to Hong Kong and same for a lot of other IB offices UK and Canada.

IB melt down, why not?
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Important Notice for Hong Kong Customers:

Closure of Operations for E*TRADE Hong Kong
After careful review, ETRADE Securities (Hong Kong) Limited ("ETRADE Hong Kong") has decided to discontinue its brokerage operations in Hong Kong and give up its Hong Kong Securities and Futures Commission licences. As a result, local support for deposits and withdrawals will be discontinued on
12 February 2016, and the local branch and customer service operations will be shut down on 10 March 2016.Please log on to your account today to learn more about this change and acknowledge your understanding of it. We will need to restrict accounts for customers who have not provided acknowledgement by
10 March 2016.We apologize for any inconvenience this closure may cause. If you have questions, please call our Hong Kong branch at +852 3191 3000 (9 a.m. to 6 p.m. HKT, weekdays). You can also reach us anytime at
+1 678 624 6210. We'll be happy to assist you.
 
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