The Securities and Futures Commission is currently estabilishing a common point with fintech firms as the momentum of this sector grows incresingly.
The online contact point, run by SFC’s risk and strategy unit, is intended to “to encourage businesses involved in the development and application of financial technology in Hong Kong to engage with the SFC”.
According to SFC, various fintech activities become relevant to regulatory work, such as financial product investments, automatic trading systems and even the application of blockchain.
Additionally, data analytics, big data and artificial intelligence to support front and back office operations of licensed intermediaries and data security technologies also come under its remit.
Earlier this year, a report by EY showed that Hong Kong has the highest rate of financial technology use of all markets surveyed globally.