File Download
There are no files associated with this item.
Supplementary
-
Citations:
- Appears in Collections:
Conference Paper: Law and Code for Financial Inclusion in Hong Kong
Title | Law and Code for Financial Inclusion in Hong Kong |
---|---|
Authors | |
Issue Date | 2020 |
Citation | The 3rd HKU-SMU Asian Private Law Workshop, Virtual Meeting, Singapore, 28 May 2020 How to Cite? |
Abstract | This article examines the problem of banks’ de-banking practices inside Hong Kong’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime, a problem that has created considerable tension between AML/CFT prevention and financial inclusion. It considers the impact of a multitude of financial reform causes, namely the promotion of financial technology innovation, the facilitation of regulatory technology development and, eventually, an increase in financial inclusion. Ultimately, it examines how financial market stability and integrity can be sustained through both a digital financial inclusion framework and a legal and regulatory framework that consists of AML/CFT safeguards and their variable approaches to address customer due diligence requirements, as well as financial consumer protection against digital financial and digital technology risks. Two legal theories, namely futurism and regulatory ritualism, will underpin the assessment of the effectiveness of the AML law and regulations, in view of the FinTech development and excessive suspicious transaction reports in Hong Kong. This article adds to the literatures of financial inclusion and AML/CFT, within the interdisciplinary dimensions of law, innovation, technology and entrepreneurship, as it aims to contribute to the regulatory policy formulation and the rule-making for financial law and regulation towards gradual opening of banking access to business enterprises. |
Description | Singapore Management University (SMU) School of Law Co-organised with the HKU Faculty of Law |
Persistent Identifier | http://hdl.handle.net/10722/289520 |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Lee, EH | - |
dc.date.accessioned | 2020-10-22T08:13:48Z | - |
dc.date.available | 2020-10-22T08:13:48Z | - |
dc.date.issued | 2020 | - |
dc.identifier.citation | The 3rd HKU-SMU Asian Private Law Workshop, Virtual Meeting, Singapore, 28 May 2020 | - |
dc.identifier.uri | http://hdl.handle.net/10722/289520 | - |
dc.description | Singapore Management University (SMU) School of Law Co-organised with the HKU Faculty of Law | - |
dc.description.abstract | This article examines the problem of banks’ de-banking practices inside Hong Kong’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime, a problem that has created considerable tension between AML/CFT prevention and financial inclusion. It considers the impact of a multitude of financial reform causes, namely the promotion of financial technology innovation, the facilitation of regulatory technology development and, eventually, an increase in financial inclusion. Ultimately, it examines how financial market stability and integrity can be sustained through both a digital financial inclusion framework and a legal and regulatory framework that consists of AML/CFT safeguards and their variable approaches to address customer due diligence requirements, as well as financial consumer protection against digital financial and digital technology risks. Two legal theories, namely futurism and regulatory ritualism, will underpin the assessment of the effectiveness of the AML law and regulations, in view of the FinTech development and excessive suspicious transaction reports in Hong Kong. This article adds to the literatures of financial inclusion and AML/CFT, within the interdisciplinary dimensions of law, innovation, technology and entrepreneurship, as it aims to contribute to the regulatory policy formulation and the rule-making for financial law and regulation towards gradual opening of banking access to business enterprises. | - |
dc.language | eng | - |
dc.relation.ispartof | The 3rd Asian Private Law Workshop | - |
dc.title | Law and Code for Financial Inclusion in Hong Kong | - |
dc.type | Conference_Paper | - |
dc.identifier.email | Lee, EH: eleelaw@hkucc.hku.hk | - |
dc.identifier.authority | Lee, EH=rp01257 | - |
dc.identifier.hkuros | 315967 | - |