Hong Kong offers top bank executives quarantine exemptions

Sun Online Desk

31st May, 2021 01:02:08 PM printer

Hong Kong offers top bank executives quarantine exemptions

Hong Kong is offering top bankers exemptions from strict virus quarantine measures, said the Securities and Futures Commission (SFC).

Senior executives who are fully vaccinated can apply to be exempted from a mandatory 21-day quarantine.

It comes after authorities had previously warned that slow vaccination uptake could hurt the city's position as a global financial centre.

Hong Kong has some of the world's strictest quarantine restrictions.

A maximum of two senior executives from each of the financial services company that are licensed by SFC and two of their overseas affiliates can apply for the waiver, according to the announcement.

Five days prior to their trip, those applying for quarantine exemption have to provide the SFC with a copy of their passport photo page or identity card, an itinerary of their visit and proof that they are fully vaccinated against Covid-19.

The SFC is the official body that issues licenses that allow firms including investment banks, securities brokerages and asset managers to operate in Hong Kong.

Anyone granted the exemption is only allowed to attend activities listed in the itinerary supplied to authorities and have to self isolate otherwise.

Anyone found breaking the rules would lose their exemption and be sent to a quarantine centre for three weeks.

Those convicted of breaking the rules would also face six months in prison and a HK$5,000 ($644, £454) fine.