How are
electronic signatures treated in comparison to wet ink signatures?
Following completion of this step on how to obtain an
electronic signature, the registration representative should be registered with the Mersis system to complete the process.
It is important to note that ESIGN actually places limits on the SEC's authority to implement rules concerning
electronic signatures. Because of this, the SEC revised Rule 204-2 to be "technologically neutral" and permits advisors to implement any combination of technological and manual protocols that meet the requirements of the three prongs above.
Electronic signatures reduce costs, increase speed, make business processes simpler and delight customers.
To keep the electronic chain intact, carriers and agents are incorporating
electronic signatures, particularly for new business processing.
As for the stock market, the
electronic signature will offer speedy trading, especially for investors who travel since internet usage would majorly facilitates the process, said Badra.
Electronic signatures under the
Electronic Signature Regulations 2002:
(The Hong Kong E-commerce law typically defines a digital signature as follows: "an
electronic signature of the signer generated by the transformation of the electronic record using an asymmetric cryptosystem and a hash function such that a person having the initial untransformed electronic record and the signer's public key can determine: (a) whether the transformation was generated using the private key that corresponds to the signer's public key; and (b) whether the initial electronic record has been altered since the transformation was generated." Hong Kong Special Autonomous Region, ELECTRONIC TRANSACTIONS ORDINANCE, Ord.
Electronic signatures will be introduced in both the public and the private sector, according to the Director of Electronic Communications Department, at the Ministry of Communications and Works, Stelios Himonas.
RPost's
electronic signature and registered email services provide senders legally valid, court admissible evidence of e-mail content, timestamp and delivery, with options to record the recipient's consent to attached contracts with legal
electronic signatures, RPost said yesterday.
With regard to the legal treatment of the documents in electronic form, the law provides that a document in electronic form, into which was incorporated, attached or logically associated to an extended
electronic signature, based on a qualified certificate unsuspended or unrevoked at that moment and generated with the help of a secured device for the creation of an
electronic signature, is assimilated, with regard to its conditions and effects, to the document under a private signature.