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ARTICLE · 16 MAY 2017

FCA Signs Fintech Deal With Second Hong Kong Regulator

Pinsent Masons
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The Financial Conduct Authority (FCA) has finalised an agreement with a second Hong Kong regulator which will see the authorities cooperate on matters of financial technology (fintech).

United KingdomTechnology
Yvonne Dunn
Yvonne Dunn
Luke Scanlon
Luke Scanlon

The Financial Conduct Authority (FCA) has finalised an agreement with a second Hong Kong regulator which will see the authorities cooperate on matters of financial technology (fintech).

The FCA's new agreement with the Securities and Futures Commission (SFC) in Hong Kong (7-page / 215KB PDF) follows on from a similar deal it struck with the Hong Kong Monetary Authority (HKMA) late last year.

The agreement will see the FCA and SFC refer 'innovator businesses' in their jurisdiction to one another for assistance in becoming authorised to operate in the others' local market. It also provides for information sharing between the regulators on "emerging trends and developments; regulatory issues pertaining to innovation in financial services; and information on organisations or bodies which lead efforts to promote innovation in financial services".

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