Regulatory Heatmap for Retail Banking and FinTech

An interactive map that outlines the regulatory frameworks in the retail banking and financial industry in Asia Pacific,  covering topics such as FinTech, consumer lending, payment services, anti-money laundering, data privacy and cybersecurity.  Users can select the applicable jurisdiction to view the most relevant local laws and regulations, as well as create comparison reports.

Each section of our guide starts with a summary of the position in each country and of recent regulatory developments/relevant areas to watch.

For example, attention should be drawn to the new rules for cybersecurity and data privacy in China, as well as the proposals of setting up a new alternative dispute settlement body for FinTech-related cases in Indonesia and a nation-wide pilot program for FinTech in the banking sector in Vietnam.

Significant amendments were also made to Japan's Payment Services Act which regulates transactions of virtual currencies, whereas Singapore's recently effected Payment Services Act regulates FinTech providers for the first time. On the other hand, eight virtual banks have been granted authorization to operate in Hong Kong.

 

 

Authored by Wataru Kamoto, Matthew Bousfield, Anthony Woolley, Katherine Tsang, Sherry Xiao, Kate Chen, Mai Phuong, Roland Sunardi, Yasuyuki Shirabe, George Williams, Rachel Wong, Shirley Guo, and Jia Zhan.

Contacts
Roger Tym
Partner
London
Mark Parsons
Partner
Hong Kong
Andrew McGinty
Partner
Hong Kong
Wataru Kamoto
Partner
Tokyo
Katherine Tsang
Senior Associate
Hong Kong
George Williams
Senior Associate
Hanoi
Sherry Xiao
Senior Associate
Hong Kong
Roland Sunardi
Associate
Jakarta
Yasuyuki Shirabe
Associate
Tokyo
Shirley Guo
Junior Associate
Shanghai
Jia Zhan
Patent Engineer
Düsseldorf

 

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