Knowledge Highlights 27 November 2024
IBA report: FinTech - How is the World Shaping the Financial Innovation Industry?
Allen & Gledhill Partner Adrian Ang contributed the Singapore chapter to FinTech: How is the World Shaping the Financial Innovation Industry?, produced by the Banking Committee of the Legal Practice Division of the International Bar Association.
The report addresses how different regulators around the world are dealing with the application of technology and innovation to banking and financial services as well as society’s present concerns. It outlines the laws and regulations governing five different aspects of FinTech: financial innovation, crypto assets, payment service providers and digital wallets, special programmes supporting the FinTech ecosystem, and open banking. It also outlines the key elements to be taken into account when ensuring adequate regulations of FinTechs in different jurisdictions.
Reproduced by kind permission of the International Bar Association, London, UK. The full report is available at: www.ibanet.org/document?id=Fintech-legal-frameworks-23. © International Bar Association.
