22 May 2015
Earlier this month in Hong Kong, the Office of the Hon Charles Mok, Legislative Councillor (IT), and the Office of the Hon Kenneth Leung, Legislative Councillor (Accountancy), joined hands and organized a seminar to discuss the opportunities and regulatory challenges that are surrounding financial innovation startups, or the so-called fintechs.
The event, sponsored by KPMG and prominent startup and Internet organizations, was intended to gather actors from various niches composing the market and hear their insights regarding the overall fintech industry.
The purpose was also to explore how Hong Kong's law and regulation needs to be shaped in order to meet with the city's latest ambition of becoming the next financial technology hub....
According to many of the speakers, Hong Kong, a traditional financial center, has valuable resources and the capacity to "[become] Asia's fintech hub." However, the city lags behind when it comes to Internet finance and innovative fintech business models.... Click here to read the full article.