Introduction
Hong Kong has always been an international financial services centre, and lawyers in our Fintech practice have advised on the use of technology to enhance or deliver financial services from before it was called fintech.
We have significant experience in helping financial institutions and innovative businesses on legal issues that arise from the intersection of technology and regulation. We have assisted financial institutions and software and technology providers on the adoption of technology to assist and support compliance with regulation in areas such as AML, sanctions screening and cybersecurity. We have advised innovative businesses with disruptive business models operating in the insurance, asset and wealth management, securities and banking sectors. We have also assisted businesses on legal issues in a financial services context arising from artificial intelligence, cloud services and ESG.
We regularly advise on the regulatory and contractual implications of innovative businesses in respect of regulations for payment systems, stored value facilities, money service operations, stablecoin arrangements, and money lending and factoring.
We have advised on several complex and cutting edge projects arising from the deployment of blockchain and distributed ledger technology in financial services, and in respect of cryptocurrency and virtual assets.
Lawyers in our Fintech team are members of the Fintech Association of Hong Kong.
Key Contacts
Services
We regularly advise on:
- Business model advice and guidance on innovative projects to troubleshoot contractual and regulatory issues
- Regulatory compliance with laws and regulations, and any applicable regulatory approvals, licences or authorisations
- Market entry and business expansion of fintech businesses to Hong Kong
- Regulation of offshore services by fintech businesses directed to Hong Kong
- Client terms and conditions, regulatory notices and other contractual arrangements for fintech businesses
- Regulatory licence applications
- Engagement with regulators, including responses to regulatory enquiries
Experience
Lawyers in our Fintech team have advised on:
- Advising a BNPL on lending and payment regulation on its business expansion to Hong Kong
- Advising a receivable financing platform on lending and securities regulation applicable to its business model
- Advising on fund management and securities regulation to an online wealth management platform
- Advising on online conditions of service in respect of real-time sale and purchase of cryptocurrency for a cryptocurrency payment business
- Advising on payment regulation in respect of debit and credit card issuance projects
- Advising on money service regulation as it applied to payment aggregation and orchestration services
- Advising on securities, insolvency and employment regulation in respect of an online wages and benefit funding service
- Advising on insurance regulation in respect of an online insurance product comparison service
- Advising on numerous applications for securities and money services licences
- Advising on stablecoin regulation as it applies to payment arrangements linked to digital assets, and on and off ramping to fiat currencies