FAQ for USM

An ASR does not automatically enrol registered holders in a USI profile. Registered holders must set up a USI profile with the relevant ASR and obtain a USI identifier before they can view or transact on their uncertificated holdings in participating securities.

Investors are encouraged, but not mandatory, to create a USI profile with an Approved Securities Registrar (ASR) to directly hold and manage participating securities in their own name. Securities held through a broker remain under a nominee structure, where the investor is the beneficial owner but not the legal title holder.

Investors may be able to set up their USI profile with the respective ASR ahead of the go live date of USM on 16 November 2026. Please check with the relevant ASR as to what is possible.

Computershare has launched the Investor Centre Hong Kong App which will serve as the USI facility for investors to access and manage securities holdings administered by Computershare when USM is launched. The App is now available on Google Play and the Apple App Store (Computershare Investor Centre) for USI profile creation.

For an individual USI holder, the USI profile is managed by the holder.

For joint USI holders, the USI profile may be managed by one joint holder, provided that all joint holders have executed a valid consent form.

For a corporate USI holder, the USI profile may be managed by an authorised person, provided that the registrar has received appropriate authorisation from the corporate holder.

Yes—this is generally possible where the custodian or nominee is the registered holder (i.e. the securities are held in the custodian’s or nominee’s own name). The USI user journey varies depending on the ASR. Please contact the relevant ASR for details specific to your arrangement.

Yes. Physical share certificates issued by the overseas principal registrar remain valid. If the shareholder has set up a USI profile and transfers those holdings to Hong Kong, the securities will be recorded in the Hong Kong Register of Holders (ROH) in uncertificated form.

If an investor keeps securities in a broker account, their experience with the broker will remain unchanged after USM.
If an investor wants to hold securities in their own name (after the securities become participating securities), the investor must:

1. set up a USI profile with the relevant ASR; and
2. instruct the broker to send a transfer instruction to that ASR.

Personal information available for public inspection in the Register of Holders (ROH) will remain unchanged. However, the register will also show the number of units of participating securities held in uncertificated form.

An Approved Securities Registrar (ASR) does not have the authority to write off or cancel such shares on its own.

The treatment of the holdings, including any write-off, cancellation, or distribution, will depend on the directions given by the court, the appointed liquidator, or the relevant regulatory authorities.