SFC Hong Kong Fintech Sandbox Launched and HKMA Hong Kong Smart Banking and Enhanced Fintech Sandbox
SFC Hong Kong Fintech Sandbox Launched and HKMA Hong Kong Smart Banking and Enhanced Fintech Sandbox
On 29 September 2017, the Securities and Futures Commission (SFC) launched the SFC Regulatory Sandbox (Hong Kong Fintech Sandbox) which will provide a confined regulatory environment for qualified firms to operate under the Securities and Futures Ordinance (Cap 571) (SFO). This follows the launch of the Hong Kong Monetary Authority (HKMA) Fintech Supervisory Sandbox in September 2016 (HKMA Hong Kong Sandbox). For information about the HKMA Hong Kong Sandbox, please see Charltons’ October 2016 newsletter. On 29 September 2017, the HKMA also announced several initiatives that prepare Hong Kong to enter a New Era of Smart Banking, including the Enhanced Fintech Supervisory Sandbox 2.0. Read more…