Global Trustee and Fiduciary Services Bite-Sized Issue 4 2026

18 QUICK LINKS CMU CONDUCT CRYPTO ASSETS EMIR FINTECH FUND LIQUIDITY IOSCO OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG T+1 ASIA EUROPE LUXEMBOURG NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 4 | 2026 • Chapter 5 specifies the rules and procedures for the processing of transformations; and • Chapter 6 sets out in detail the rules and procedures for buyer protection. Link to the Guide here ASIA Uncertificated Securities Market Regime – Targeted for Launch in November 2026 On 30 March 2026, the Securities and Futures Commission (SFC) announced that the uncertificated securities market (USM) regime is targeted to be launched on 16 November 2026. The SFC said that with broad market support and close collaboration with Hong Kong Exchanges and Clearing Limited (HKEX) and the Federation of Share Registrars Limited (FSR), major work streams for implementing USM are now at advanced stages following steady progress over the past year. To bring the USM legislation into effect, a commencement notice will be tabled before the Legislative Council in the second quarter of 2026. The SFC said that, upon implementation, newly listed securities will be required to be issued in paperless form from the time of listing. For securities already listed prior to the launch date, issuers will be gradually integrated into the USM regime over a five-year period. Issuers and the market will receive advance notice regarding these arrangements. Investors who possess share certificates will have the flexibility to decide when they wish to convert their shares into paperless form. The SFC encourages intermediaries to continue working closely with HKEX in preparing for USM. Given that the existing nominee structure in the Central Clearing and Settlement System (CCASS) will be retained, only limited changes will be made to CCASS processes, most notably the processes for depositing securities into, and withdrawing them out of, CCASS. These changes together with the revised fees may require some adjustments to intermediaries’ own business models and operational processes, as well as to their client and other documentation. Intermediaries should progress their preparation work as quickly as possible to ensure they are ready when the new regime takes effect in November. The SFC said it will continue to update its dedicated USMwebpage to keep the market informed of the latest developments, while HKEX and the FSR will also continue to release information papers and conduct briefings for various stakeholders. Link to Press Release here Report on “BeyondWealth: Advancing Hong Kong’s Family Office Ecosystem Through Philanthropy, Impact Investing, and Risk Management” On 10 March 2026, the Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance, published an Applied Research report, titled “Beyond Wealth: Advancing Hong Kong’s Family Office Ecosystem Through Philanthropy, Impact Investing, and Risk Management”. Based on a survey and interviews with industry stakeholders, the HKIMR said the report explores the development trends of the family office (FO) sector in Hong Kong. The report points out that the Hong Kong FO sector exhibits strong growth momentum. In addition to traditional wealth management, the increasing demand for philanthropy, impact investing, and risk management strategies has become the main growth area for the future. The HKIMR says Hong Kong’s appeal as a premier FO destination is increasingly evident, with 91% of survey respondents already invested in the city, citing its favourable regulatory framework, free flow of capital, deep capital markets, and competitive tax regime. The report also shows that FOs are planning to deepen their involvement in philanthropy and impact investing over the next few years. Philanthropic participation is projected to increase from 45% to 64%, and impact investing from 30% to 43% – levels that align with global trends. Meanwhile, FOs’ demand for risk management products and services is expected to continue to increase.