1. How do I know if the course I attended is eligible under the Scheme?
You may refer to a full list of eligible courses under Eligible Training Programmes in this website where the list will be updated regularly for the approved courses / seminars.
2. How would I know if my employment is eligible under the Scheme?
You must be a full-time in-service practitioner (not necessarily in the field of asset and wealth management) on the commencement date of the course concerned, employed under:
- a financial institution licensed with or registered by the Securities and Futures Commission (“SFC”) under the Securities and Futures Ordinance (Cap.571); or
- a financial institution licensed with or registered by the Hong Kong Monetary Authority (“HKMA”); or
- an insurer authorised or any insurance intermediaries licensed under the Insurance Ordinance (Cap. 41); or
- a firm or corporate practices registered with the Hong Kong Institute of Certified Public Accountants; or
- a trust company registered under Part 8 of the Trustee Ordinance (Cap. 29) or any trustees approved by the Mandatory Provident Fund Schemes Authority under the Mandatory Provident Fund Schemes Ordinance (Cap. 485); or
- a trust or company service provider licensed by the Companies Registry under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615); or
- a recruitment agency where a contractual relationship with any eligible financial institutions within the scope of the above-mentioned can be verified; or
- a member company of a group of which the relevant subsidiary is an eligible financial institution within the scope of the above-mentioned.
3. How could I check if my employer / receiving company is eligible under the Scheme?
You may check if your employer is licensed by or registered with the respective regulator through the following public registers (the HKTA’s register is available for its members only):
- “Public register of licensed persons and registered institutions” for a financial institution licensed with or registered by the Securities and Futures Commission (“SFC”) under the Securities and Futures Ordinance (Cap.571);
- any of the following three registers/list for a financial institution licensed with or registered by the Hong Kong Monetary Authority (“HKMA”):
a. “Register of AIs & LROs” for an authorised institution / a local representative office
b. “Register of SVF Licensees” for a stored value facility
c. “List of approved money brokers” for a money broker
- the following registers for an insurer authorised and for an insurance intermediary licensed under the Insurance Ordinance (Cap. 41):
a. “Register of Authorized Insurers” for an insurer
b. “Register of Licensed Insurance Intermediaries” for an insurance intermediary
- “Hong Kong CPA Practice Directory” in the website of the Hong Kong Institute of Certified Public Accountants (“HKICPA”) for a firm or a corporate practice registered with the HKICPA;
- “List of Hong Kong registered trust companies” under the Hong Kong Trustees’ Association (“HKTA”) (available for HKTA members only) for a trust company registered under Part 8 of the Trustee Ordinance (Cap. 29) or
“List of MPF Approved Trustees” under the Mandatory Provident Fund Schemes Authority (“MPFA”) for a trustee approved by the MPFA under the Mandatory Provident Fund Schemes Ordinance (Cap. 485)
Alternatively, online public search services are provided through the Integrated Companies Registry Information System (“ICRIS”).
- “Register of Trust or Company Service Provider Licensees” under the Companies Registry for a trust company or a company service provider licensed by the Companies Registry under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).
4. What do I need to provide if I am a full time contract staff of an eligible financial institution where the employment contract is signed with the appointed recruitment agency (which is NOT an eligible financial institution) of the receiving company?
You are required to submit two company letters with one issued by the receiving company (which should be an eligible financial institution as listed in question 2) that you are assigned to work for, and one by the recruitment agency which employs you.
In the letter, the receiving company and recruitment agency shall certify that:
- you are in full-time employment with the receiving company’s appointed recruitment agency and have been assigned to work for the receiving company on a full-time basis as of the commencement date of the course, and
- no subsidy or any other form of financial assistance for the 80% of the course fees to be reimbursed under the Scheme has been provided to you.
The application will be reviewed on a case-by-case basis depending on whether a working or contractual relation between the applicant and the receiving company can be demonstrated if the receiving company does NOT provide any certification.
5. Who are considered to be in-service practitioners?
All full-time employees of any of the eligible employers as specified in question 2 above including but not limited to:
- front office: trading, research, structuring, sales, corporate finance, relationship management, fund management;
- infrastructure groups: operations, sales support, information technology, settlement;
- risk management;
- finance and accounting;
- legal & compliance;
- internal audit; and
- human resources;
Any individual insurance intermediary including:
- Licensed Individual Insurance Agents,
- Licensed Technical Representatives (Agent), and
- Licensed Technical Representative (Broker)
6. Who should endorse my employment status if I am an insurance agent with more than ONE principal?
If you are appointed by two or more principals and
- none of them in long term business: one company letter / completed employment certification form issued by the major appointing principal in general business is required;
- one of them in long term business: one company letter / completed employment certification form issued by the appointing principal in long term business is required;
- more than one of them in long term business: one company letter / completed employment certification form issued by the major appointing principal, which is expected to be the employer of the applicant, in long term business is required.
(Note: The contact details of other principal(s) in long term business may be required for verification purpose.)
7. Why does the timeframe for the financial licensees in between jobs differ from the extended period of the Scheme?
The eligibility of the Scheme is expanded to cover the financial licensees in between jobs as a result of the fallout of COVID-19 pandemic. The impact is expected to be muffled by end of March 2022.
8. Can I apply for course fee reimbursement if I receive partial sponsorship from my employer and/or other programmes of the Government?
You are required to confirm that you have not received any other form of subsidy or financial assistance for the 80% of the course fees to be reimbursed under the Scheme from any publicly-funded schemes and/or your employer.
9. Can I apply for course fee reimbursement for multiple courses in one application?
Yes. You may apply for the course fee reimbursement of multiple courses in one application as long as it is submitted within 4 months from the end date (please refer to Q.11) of the individual training courses attended and the employment status was the same when you attended the courses (i.e. either under employment by the same employer or in between jobs).
If you apply for multiple courses in one application, the employment period as stated in the company letter should cover the dates of the courses concerned. If you have changed jobs during the period when you have taken multiple courses, you may still apply for multiple courses in one application but should submit separate employment letters from the corresponding employers (please refer to Q10).
Each course will be reviewed independently based on the satisfaction criteria set by the training provider(s).
10. Do I need to submit separate company letters from my employer if I apply for multiple course fee reimbursements in one application?
No. As long as the employment period in your company letter covers the start date of all courses concerned, i.e. the start date of your employment was prior to the commencement date of all the respective courses, ONE company letter would suffice.
You are required to list out all attended courses in exact names per the official receipt, as the employer (and receiving company in case of outsourced staff) is required to certify that no subsidy or any form of financial assistance for the 80% of the course fees to be reimbursed under the Scheme has been provided to you.
If you enrol in a package course with multiple units/modules in ONE single payment, you should state the name of the package course, which has to be exactly the same as the one per the official receipt.
Self-certification of one’s own employment status is NOT accepted.
11. Which date would be treated as the course end date for a course with multiple classes?
The date of the last class will be the course end date under normal circumstances, subject to possible different arrangements specified by training providers.
For instance, it is noted that the date of passing the requisite assessment would be viewed as the course end date of “Certificate for Module (Enhanced Competency Framework on Anti-Money Laundering and Counter-Financing of Terrorism Professional Level)”.
In case of uncertainty, applicants are advised to check with the training provider(s) for confirmation.
12. Would there be any different procedures if I enrol in a package course of Trust Training Certificate offered by the Hong Kong Trustees' Association and Hong Kong Securities and Investment Institute?
Each course fee reimbursement application will be reviewed individually based on the completeness of the supporting documents submitted and the satisfaction criteria set by the training provider(s).
For instance, there are seven units in the package course of “Trust Training Certificate - Part A”. The applicant may have fully attended Units 1 to 5 but only 50% for Unit 6 and 80% for Unit 7. Consequently, the applicant will only be entitled to the reimbursement for Units 1 to 5 as the training provider requires a 100% attendance.
An applicant may submit an application for reimbursement of course fee even if the whole package course is not completed in full. You may apply for course fee reimbursement for any of the units/modules of the package course as long as the supporting documents are ready. The course end date will be the last day of the individual unit/module attended.
13. Can I apply for reimbursement for the same course more than once?
No. Each course can only be reimbursed once regardless of the delivery mode (face-to-face or webinar).
14. Can I submit the application offline?
Yes. You may download the paper application form from the website - “Paper Application Form (for employed applicants)” or “Paper Application Form (for applicants in between jobs)”.
Applicants using paper application form must come in person to the HKSI Institute’s office at Room 510, 5/F, Wing On Centre, 111 Connaught Road Central, Hong Kong) to submit the completed application form together with all supporting documents. Submission by mail will NOT be accepted.
15. Do I still need to provide a set of application form in hard copy after I submitted the application online?
Yes. After submitting the application form online, you are required to print out the completed application form and sign on it (Section C – Declaration and Annex A - Deed of Undertaking).
For in-service practitioners, you may also print the “Form to be endorsed by the Employer” as a substitute of the company letter for the employer to sign. Please ensure it is stamped with a proper company chop in the same manner.
You should then send the complete set of application form and the five supporting documents (please refer to “Application Procedures” under Guide to Applicants) by mail or in person to the HKSI Institute’s office at Room 510, 5/F, Wing On Centre, 111 Connaught Road Central, Hong Kong.
16. What if I have submitted application online but no application number was generated?
That means the submission was not successful. You should resubmit the application online. Should you have any further questions, please contact us at 3120 6100 or email us at email@example.com.
Eligible courses / seminars
17. Are there any course attendance requirements for applying for course fee reimbursement under the Scheme?
Yes. You should meet the attendance requirements laid down by the respective training providers.
Please note that different training providers may have different satisfactory level. For any concerns, please check with the corresponding training providers.
18. Do participants need to pass any examination in order to qualify for the reimbursement?
Participants should complete courses up to the course provider’s satisfaction to qualify for the reimbursement. Different training providers may have different criteria. Examinations may form part of the assessment for some courses. For details of the satisfactory level, please check with the corresponding training providers.
19. How can I enrol in the courses that are covered in the Scheme?
You should register the courses directly through the portal of the respective training providers.
20. Does the Scheme cover in-house training programmes?
Yes when ONLY if the course is prelisted in the Eligible Training Programmes on this website and at least 80% of the course fee is paid by the applicant.
21. Is there any difference between the learning modes of “Tuition” and “Tutorial” for Advanced Certificate for Enhanced Competency Framework (ECF) on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) offered by the Hong Kong Institute of Bankers?
Both the tutorial and tuition modes are eligible under the Scheme. However, they are considered to be the same course. You may apply for reimbursement under the Scheme for either the Tutorial mode or Tuition mode but NOT both.
For details of the courses, you may check with the training provider.
Reimbursement of course fees
22. Can examination fees be reimbursed under the Scheme?
No. Only course fees will be reimbursed. Examination fees, registration fees, administrative fees, examination fees, late charges or any other miscellaneous charges are not eligible for reimbursement.
23. What is the deadline for application?
Applicants should submit their applications with all required supporting documents to the HKSI Institute within FOUR months from the course end date. Any late or incomplete application will not be accepted.
If the deadline falls on a Saturday, Sunday or public holiday, the deadline will be the next working day. Applicants should submit the full set of application documents on next working day. Otherwise, the applications will be treated as late submission.
All applications for reimbursement will be processed on a first-come-first-served basis, until the funding allocated to the Scheme has been fully committed.
24. How long will it take to reimburse the course fee?
It will take approximately eight weeks for applicants to get reimbursed, subject to complete and satisfactory supporting documents being provided.
If the information provided is incomplete or further clarification is required, applicants will be contacted for clarification or submission of supplementary information. In that case, the processing time may be longer.
If applicants do NOT respond to the queries from the HKSI Institute within eight weeks, the application may be considered a withdrawal.
25. How can I know if the reimbursement has been made?
Payment will be made to the successful applicant(s) by direct credit to the bank account specified in the application.
Applicants may inquire the application status, application history and remaining reimbursable amount online via https://www.wamtalent.org.hk/eng/fis/reimbursement-form-status-check.php.
26. Can I amend the application details after I submitted the completed application form?
You are allowed to make changes to your submitted application only via Application Status Enquiry on this website. Applicants will be allowed to use the edit function if the application status is “Online form submitted” or “Application form received”. Applicants are no longer allowed to make changes online when the application status becomes “Application form and all supporting documents received” or “Pending clarification”.
A system-generated email will be sent to the mailbox provided in your application as an acknowledgement upon any changes made. The updated application form will also be available online for download.
The updated application form together with the supporting documents (applicable only if hard copies have not yet been submitted previously) should be delivered by mail or in person to the HKSI Institute’s office at Room 510, 5/F, Wing On Centre, 111 Connaught Road Central, Hong Kong.
27. Can I claim a deduction for the course expenses under the Scheme in my tax return?
You may refer to the Government’s website on Deduction for Expenses of Self-Education for details.
You may also check Schedule 13 of the Inland Revenue Ordinance (Cap. 112) for a list of institutions that may accredit or recognise training or development courses for the purpose of prescribed course of education.