• wblogo
  • wblogo
  • wblogo

Hong Kong regulators focus on fintech

Amisha Mehta, Editor, London, 2 March 2016

articleimage

One of Hong Kong's main regulatory bodies has created a "fintech contact point" to encourage firms operating in this space to engage with it, highlighting how watchdogs see the sector as becoming increasingly important to financial services.

The Securities and Futures Commission this week created the dedicated channel; it has also set up an advisory group to focus on opportunities, risks and regulatory fallout of fintech.

Amid the buzz around models such as "robo-advisors", the use of mobile devices, cloud computing, use by banks of Big Data, and cybercrime, regulators are scrambling to keep pace with developments.

The SFC's propaganda states: "A variety of Fintech activities are relevant to the SFC’s regulatory work. Among these are automated trading systems; financial product investment and distribution platforms, including robo-advisors; financing platforms, including peer-to-peer lending and equity crowdfunding platforms; and distributed ledger technology, including the application of blockchain to licensed intermediaries, securities and capital markets."

The regulator says that other fintech activities relevant to its work include Big Data, data analytics and artificial intelligence to support the front and back office operations of licensed intermediaries; compliance, risk and regulatory technologies, including technologies that support regulatory compliance, regulatory reporting and know-your-client; and cyber and data security technologies, including those for client authentication.

Latest Comment and Analysis

Latest News

Award Winners

Most Read

More Stories

Latest Poll