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Application for Reimbursement

2. Notes for applicants

General information

  1. The Financial Services and the Treasury Bureau has engaged the Hong Kong Securities and Investment Institute (the "HKSI Institute") to implement the Financial Incentive Scheme for Professional Training ("Scheme") under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (the “Programme”) since 1 October 2016. The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management (“WAM”) sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the asset and wealth management field. Eligible applicants will be reimbursed 80% of the course fees upon satisfactory completion of a course, subject to a maximum of $10,000 (Note: The cap was $7,000 prior to 17 April 2020.) per person on all eligible courses held during the period from 1 October 2019 to 31 August 2022. In view of the fallout of the COVID-19 pandemic, the scope of the Scheme has been expanded to benefit more industry practitioners. Financial services licensees in between jobs within the two-year period from 17 April 2020 to 31 March 2022 will be eligible to apply for subsidies under the Scheme.
  2. For information about the eligible programmes / seminars, please refer to Eligible Training Programmes.
  3. Eligibility

  4. Applications should only be made by individuals. Applications from companies or organizations will not be accepted. For each application,
    • 3.1 the applicant must be:
      • 3.1.1 a Hong Kong resident and lawfully employable in Hong Kong; AND either:
      • 3.1.2 a full-time in-service practitioner on the commencement date of the course attended, who is not required to be working in the field of asset and wealth management, employed under any of the following:
        1. 1. a financial institution licensed with or registered by the Securities and Futures Commission (“SFC”) under the Securities and Futures Ordinance (Cap.571); or
        2. 2. a financial institution licensed with or registered by the Hong Kong Monetary Authority (“HKMA”); or
        3. 3. an insurer authorised or any insurance intermediaries licensed under the Insurance Ordinance (Cap. 41); or
        4. 4. a firm or corporate practices registered with the Hong Kong Institute of Certified Public Accountants (“HKICPA”); or
        5. 5. a trust company registered under Part 8 of the Trustee Ordinance (Cap. 29) or any trustees approved by the Mandatory Provident Fund Schemes Authority (“MPFA”) under the Mandatory Provident Fund Schemes Ordinance (Cap. 485); or
        6. 6. a trust or company service provider licensed by the Companies Registry under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615); or
        7. 7. a recruitment agency engaged by any of the employers mentioned in clause 3.1.2(1.) to 3.1.2(6.) above to provide personnel with proof; or
        8. 8. a member company of a group of which the relevant subsidiary is an eligible employer in clause 3.1.2(1.) to 3.1.2(6.) above; OR
      • 3.1.3 a financial services licensee in between jobs on the commencement date of the course attended during the period from 17 April 2020 to 31 March 2022. Eligible licensees refer to any of the following:
        1. 1. SFC licensees; or
        2. 2. Securities staff of authorised institutions under the HKMA; or
        3. 3. Licensed individual insurance agents / Technical Representatives (Agent) / Technical Representatives (Broker); or
        4. 4. Certified public accountants registered with the HKICPA.
    • 3.2 An exemption from the full-time employment requirement under clause 3.1.2(3.) above will ONLY be granted to the following practitioners from 1 April 2020 onwards:
      1. - Insurance agents
      2. - Technical Representatives of insurance agent
      3. - Technical Representatives of insurance broker
      A qualified applicant has to be an insurance intermediary licensed by the Insurance Authority where the Principal is an insurer authorised or an insurance intermediary licensed under the Insurance Ordinance (Cap. 41).
      Additional information may be required to prove the contractual relationship between the applicant and the principal.
    • 3.3 The applicant must have completed the eligible course to the course provider’s satisfaction during the following period of time:
      1. 3.3.1 for an in-service practitioner currently under employment, on or after the launch of the Pilot Programme (i.e. from 1 October, 2016 onwards); or
      2. 3.3.2 for a financial services licensee who is in-between jobs, from 17 April 2020 to 31 March 2022; and
    • 3.4 The applicant must not have received any other form of subsidy or financial assistance for 80% of the course fees to be reimbursed under the Scheme from any publicly-funded schemes and / or the applicant’s employer.
    • 3.5 The applicants are required to switch the camera on throughout the class for live webinars.
  5. Reimbursement of course fees

  6. Each successful applicant will be reimbursed 80% of their course fees, subject to a maximum of $10,000 per person throughout the period of 1 October 2016 to 31 March 2023. Each applicant can apply for reimbursement for more than one courses. Duplicated applications for the same course will not be accepted. All courses should be completed on or before 31 August 2022 to be eligible for application for course fee reimbursement. Only the fees incurred for enrolling in eligible course(s) can be reimbursed. Other charges, such as registration fees, administration fees, examination fees, late charges or any other miscellaneous charges are not eligible for reimbursement.
  7. All applications for reimbursement will be processed on a first-come-first-served basis, until funding for the Scheme has been fully committed. The date of receipt of the completed application form and all required supporting documents (as stated at paragraph 7 below) by the HKSI Institute will be regarded as the date of application.
  8. Payment method

  9. Payment will be made to the successful applicant by direct credit to the local bank account (savings account or current account denominated in Hong Kong Dollar or accepts Hong Kong Dollar transactions) nominated by the applicant. The name of the account holder must be identical to the name shown on the applicant’s Hong Kong Identity Card.
  10. Procedures for application

  11. Online application
    After completing the application form via the online application portal, the applicant will receive an unique system-generated application number for reference. The applicant shall print out the form and sign on Section C & Annex A of the form, and submit the complete set of application form together with the FIVE supporting documents listed below by mail or in person to the HKSI Institute’s office. All documents must be submitted within FOUR months from the last day of the course attended. Late or incomplete applications will not be accepted.
    • 7.1 a copy of the applicant’s Hong Kong Identity Card;
    • 7.2 a copy of the certificate issued by the course provider certifying that the applicant has completed the course to the satisfaction of the provider;
    • 7.3 the original receipt of the course fee payment issued by the course provider (with name of applicant, name of the course attended and course date);
    • 7.4 a documentation of the personal bank account for direct credit of reimbursement in the form of a copy of the front page of bank passbook / bank account statement / a bank debit card / blank personal cheque. (Note: The copy must show clearly the name of the bank, the account number, of which the reimbursement will be credited to and the name of the account holder, which must be identical to the name shown on the applicant’s Hong Kong Identity Card); and
    • 7.5.1 for in-service practitioners currently under employment, an original company letter issued by or an employment certification form (‘’Form’’) endorsed by the applicant’s employer with an authorised signature duly signed and the employer’s company chop stamped, certifying that on the commencement date of the course attended, the applicant is in full-time employment with an entity specified in paragraph 3.1.2 above and that the applicant has not received any form of subsidy or financial assistance for 80% of the course fees to be reimbursed under the Scheme from the employer.
    • 7.5.2 for financial service licensees in between jobs, either: an employment verification letter from the last employer (if available); or the applicant’s licence/registration number given by the relevant authority (i.e. SFC, HKMA, Insurance Authority, MPFA or HKICPA).
  12. Paper application form
    The Paper application form can be downloaded via the link below:
    Applicants using the paper application form must come in person to the HKSI Institute’s office to submit the application. Submission by post or by courier will NOT be accepted. For details of the application procedure with respect to paper application form, please refer to the ‘Application Procedures’ section of the form.
  13. Applicants may be required to verify the information submitted and / or to provide additional information where necessary for further processing.
  14. All documents submitted are not returnable. Applicants are advised to retain copies for their own reference.
  15. Fraud prevention measures

  16. The HKSI Institute will sample check the employment status, and / or course attendance etc., to verify the information submitted. Please ensure that the information provided is complete and accurate. Any person who to his / her knowledge supplies false or misleading information or is subsequently found to have failed to meet the relevant requirements as stipulated in paragraph 3 above, without prejudice to any powers, rights, remedies and claims that the Government may have hereunder or in law, the Government shall be entitled to reject or disqualify this application immediately, or as the case may be, terminate immediately the provision of course fee reimbursement under the Programme to the applicant and require the applicant to repay to the HKSI Institute forthwith upon demand all moneys provided to the applicant and any associated administration fee incurred by the HKSI Institute. Obtaining benefits for oneself or another by furnishing false or misleading information may constitute a criminal offence and the offender may be liable to criminal prosecution.
  17. The HKSI Institute reserves the right to contact the course providers, employers, other government departments and organisations at any time to verify the information provided in the application with those held by them for the purposes mentioned in paragraph 11 above.
  18. Privacy

  19. Applicants are obliged to supply information pertaining to their personal data, as required in the application. In accordance with section of the Code of Practice on the Identity Card Number and Other Personal Identifiers issued by the Office of the Privacy Commissioner for Personal Data, applicants are requested to furnish a copy of their Hong Kong Identity Card. If an applicant fails to comply with these requirements, the HKSI Institute may not be able to process his / her application.
  20. The personal data in the application are collected and kept for the purposes of: (i) activities relating to the processing, vetting and reviewing of the application, reimbursement of course fees, follow-up on employment status; (ii) activities relating to the recovery of payments, if any; and (iii) opinion surveys, statistics, research, reporting and promotions.
  21. The personal data and other supplementary information that are provided in the application may be disclosed to the applicant’s employer, government bureaux / departments, course providers and / or their commissioned research consultants and agencies for the purposes set out in paragraph 14 above or any other legitimate purposes as may be required, authorised or permitted by law.
  22. In accordance with sections 18 and 22 and Principle 6 of Schedule 1 of the Personal Data (Privacy) Ordinance (Chapter 486 of the Laws of Hong Kong), applicants have the right to request access to and correction of the personal data supplied in their applications. The HKSI Institute may collect a fee from applicants who wish to obtain a copy of their personal data.
  23. Enquiries concerning the personal data supplied in the applications and requests for the correction of such data may be made in writing to the HKSI Institute.
  24. Enquiries

  25. Enrolment and all relevant administration of the eligible courses are fully responsible by the respective course providers. For any queries about the course arrangements, such as venue or class schedule for instance, please contact the course providers concerned directly.
  26. For enquiries, comments or complaints related to the Scheme, please email to or call the HKSI Institute office at 3120 6100 or visit the office. Please refer to the website for details.
  27. Government disclaimers

  28. Whilst the information provided by the Government in these Notes for Applicants and the Application Form (collectively, the "Application Documents") has been prepared in good faith, none of them claims to be comprehensive or to have been independently verified. Neither the Government, nor any of its officers, agents or advisors, accepts any liability or responsibility as to, or in relation to, the adequacy, accuracy or completeness of the information contained in the Application Documents or any other written or oral information which is, has been or will be provided or made available to any Applicant; nor do they make any representation, statement or warranty, express or implied, with respect to such information or to the information on which the Application Documents is based. Any liability in respect of any such information or any inaccuracy in the Application Form or omission from the Application Form and other Application Documents is expressly disclaimed. Nothing in the Application Form and other Application Documents nor in any other written or oral information which is, has been or will be provided or made available to any Applicant should be relied on as a representation, statement or warranty as to the intentions, policy or action in future of the Government, its officers or agents.
  29. Neither the Application Form nor any invitation for submission of applications under the Programme constitutes an offer.
  30. The submission of an application for reimbursement of course fees by an Applicant shall be taken to be an acceptance of the terms of these disclaimers by the Applicant.
  31. Others

  32. In the event of any conflict or discrepancy arising from the Chinese and English versions of this "Notes for Applicants" and the application form, the English Version shall prevail.
  33. The parties hereby declare that nothing in this Notes for Applicants confers or purports to confer on any third party any benefit or any right to enforce any term of this Contract pursuant to the Contracts (Rights of Third Parties) Ordinance (Cap. 623).