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You are looking at 1 - 2 of 2 items for :

  • Financial services industry; Technological innovations x
  • Taxation, Subsidies, and Revenue: General x
  • Public finance & taxation x
  • Computing and Information Technology x
  • Hong Kong Special Administrative Region, People's Republic of China x
  • Asia and Pacific x
  • Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems x
  • Public Economics x
  • Financial and monetary sector x
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Cover FinTech Notes
Institutional Arrangements for Fintech Regulation and Supervision
Mr. Charles R Taylor, Christopher Wilson, Eija Holttinen, and Anastasiia Morozova
Fintech developments are shaking up mandates within the existing regulatory architecture. It is not uncommon for financial sector agencies to have multiple policy objectives. Most often the policy objectives for these agencies reflect prudential, conduct and financial stability policy objectives. In some cases, financial sector agencies are also allocated responsibility for enhancing competition and innovation. When it comes to fintech, countries differ to some extent in the manner they balance the objectives of promoting the development of fintech and regulating it. Countries see fintech as a means of achieving multiple policy objectives sometimes with lesser or greater degrees of emphasis, such as accelerating development and spurring financial inclusion, while others may support innovation with the objective of promoting competition and efficiency in the provision of financial services. This difference in emphasis may impact institutional structures, including the allocation of staff resources. Conflicts of interest arising from dual roles are sometimes managed through legally established prioritization of objectives or establishment of separate internal reporting lines for supervision and development.
Keywords:
FTN; fintech firm; fintech unit; Fintech development; fintech issue; fintech policy objective; fintech development; Fintech responsibility; fintech innovation; Fintech; Institutional arrangements for revenue administration; Financial sector; Global; Fintech regulation; SupervisionInstitutional arrangement; arrangements for Fintech regulation
Cover IMF Staff Country Reports
People’s Republic of China––Hong Kong Special Administrative Region: Report on the Observance of Standards and Codes
International Monetary Fund. Monetary and Capital Markets Department
This paper discusses key findings of the Report on the Observance of Standards and Codes for Hong Kong Special Administrative Region (HKSAR). HKSAR has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision. The Hong Kong Monetary Authority (HKMA) complements its high supervisory standards with a sustained commitment to the international regulatory reform agenda where it is an early adopter of many standards. The banking system is characterized by the dominant presence of institutions with foreign ownership, including the systemic banks, which puts a premium on the HKMA’s role as a host supervisory authority.
Keywords:
ISCR; CR; risk management; holding company; hedge fund; financial system; corporate governance; special administrative region; banking sector; Insurance companies; Insurance; Virtual currencies; Legal support in revenue administration; Commercial banks; Global