New FinTech Regulation and Policy Project Funded by RGC's Research Impact Fund (PI: Douglas Arner, HKU Law, HK$4.3M)

Kerry Holdings Professor

Congratulations to Professor Douglas Arner who is leading a research project recently awarded HK$4.3 million (including $1.3 million matching by HKU) from the Research Grants Council's new Research Impact Fund 2018/19. The title of the project is Balancing the Opportunities and Risks of Financial Technology: FinTech Regulation and Policy.  The team members of this international and interdisciplinary project include Ross Buckley from the University of New South Wales, David C. Donald from Chinese University of Hong Kong, George Q. Huang from HKU (Business & Economics), Chen Lin from HKU (Business & Economics), Siuming Yiu from HKU (Computer Science), and Dirk A. Zetzsche from the University of Luxembourg.

  Project Description: Finance and technology have always been inextricably intertwined, from the earliest development of money (e.g. coins are a technology which stores value, provides a unit of account and a means of payment) to today’s e-money solutions (from mobile payment to cryptocurrencies). Within that interaction between finance and technology law plays a critical role as it defines the use, limitation and function of money in society.

    The 1970s marks the beginning of a change of the relationship between finance, technology and law. The arrival of mainframe computers initiated a process of digitisation of finance, which has only increased ever since with the improvement in computing power, datafication of the financial services industry and availability of analytical tools.

     Following the 2008 Global Financial Crisis, a second evolution in the interaction between finance, technology and regulation occurred. It was brought by two factors. First, the arrival of new participants (from start-ups to major technology and communications companies) in financial markets. Second the extremely rapid datafication of society brought by increased mobile phone penetration (5 billion), IoT devices (20 billion) which can be stored and managed on new infrastructure (blockchain and DLT) analysed by tools such as artificial intelligence.

     This second phase is now generally identified by the term “FinTech” and has gathered the interest of policymakers, regulators, private sectors and investors in every major financial centre, including Hong Kong. Whilst FinTech development offers many opportunities (i.e. better competition, financial inclusion, economic development) certain risks emerge. In particular where FinTech responds to unmet demands, a new segment on consumer can be at exposed. Furthermore, when FinTech relies on new technological advancements, new unanswered questions emerge (i.e. what of GDPR compliance of distributed data on blockchain).

     Hong Kong’s opportunities and risks are compounded by its geographical situation. It's proximity to China and centre place in Asia put’s Hong Kong at the heart of the regions witnessing the most dramatic changes in finance and technology. The tension brought by these changes will reveal (in)adequacies of the law and its role in facilitation the interaction between finance and technology. This opens an opportunity for reform, one which will look at new laws and regulations but also how this can be improved with technology (what the authors refer as Smart Regulation, part of Regtech)

     This research project will provide a comprehensive study benefiting the agenda of Hong Kong’s regulators and policymakers in respect to FinTech development. Therefore it will support the city’s ambition to retain its leadership as a financial centre. Given the benchmarking work that will be conducted and Hong Kong’s geographical location at the forefront of change, this work can be exported in other jurisdiction as foresight of what will occur in the future.

Call for Papers: Limitations on Trademark Rights from Comparative and Interdisciplinary Perspectives (HKU Law & Technology Centre)

Limitations on Trademark Rights from Comparative and Interdisciplinary Perspectives

Call for Papers

Deadline for Abstract Submission: September 14, 2018

The Law and Technology Centre at the University of Hong Kong Faculty of Law and the Engelberg Center on Innovation Law & Policy at New York University School of Law will next year co-sponsor a conference on limitations on trademark rights. The conference will bring together scholars from around the world to explore the nature and scope of those limitations from comparative and interdisciplinary perspectives. The conference will be held at the University of Hong Kong on January 7-8, 2019.

      The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) sets no minimum standards for limitations on trademark rights, such as fair use and exhaustion. At the domestic level, the courts in various jurisdictions have adopted conflicting opinions on how to decide cases involving such limitations (e.g., nominative fair use). Comparative studies are therefore useful in understanding the differing legal standards for the limitations on trademark rights adopted in different jurisdictions. Moreover, conventional wisdom largely justifies trademark rights limitations from free speech or market competition perspectives, with other theoretical approaches such as social and cultural studies enjoying limited application in considering the nature and scope of those limitations. Against this backdrop, the conference organizers welcome submissions of papers developing new thoughts and theories on limitations on trademark rights by examining them through a comparative or interdisciplinary lens.

      The Rt. Hon. Professor Sir Robin Jacob will deliver the conference’s keynote speech, and a number of leading trademark scholars have already agreed to present papers. A limited number of presentation slots have also been reserved for scholars to be selected through this call for papers. Both senior and junior scholars are encouraged to submit abstracts of the papers they intend to present. Abstracts will be selected based on scholarly merit and originality.

      Please submit an abstract (no more than 300 words) to Ms. Grace Chan at mcgrace@hku.hk by September 14, 2018. The submission should also include your name, position, institutional affiliation and e-mail address.

      All applicants will be informed of the selection outcome by October 2, 2018. Financial support is available for scholars who experience difficulty obtaining a sufficient travel grant from their institution.

     All conference enquiries should be addressed to Ms. Grace Chan at the above e-mail address or at (+852) 3917-4727.

Global Animal Law Conference @ HKU (4-5 May 2018)

III Global Animal Law Conference hosted by HKU Faculty of Law will be held on 4-5 May 2018 (Fri-Sat) at Large Moot Court, 2/f, Cheng Yu Tung Tower, the University of Hong Kong. The purpose of this Conference is to bring together experienced legal thinkers and writers in the area of animal law, in order to learn about how the different legal systems of the world are dealing with animal issues in their respective countries. Speakers from 17 countries, representing over 20 universities will be present.  Many of the speakers have authored important books and articles in the area of animal law. Most of the speakers come from a legal academic background. Sponsoring academic institutions are The University of Hong Kong Law Faculty, Michigan State University College of Law Animal Law Program, Lewis and Clark School of Law Center for Animal Law Studies, Universitat Autónoma de Barcelona Masters in Animal Law, and Harvard Law School Animal Law and Policy Program. 

 To view the Conference details, please click here. To register, please click here.  For enquiries, please contact Ms Winnie Law at winniewm@hku.hk.