Post on 14-Jan-2017
Financial Regulations and Policies every Fintech Geek should be aware of
LIM JO YAN5 September 2016Partner, Head of Corporate and Commercial Practice Group
Who are the relevant Regulators?
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• Central Bank of Malaysia• Securities Commission• Competition Commission• Personal Data Protection Commission• Ministry of Urban Wellbeing, Housing
and Local Government• Communications and Multimedia
Commission
Market Segments
3
• Data and Analytics
- Customer facing purposes- customer segmentisation, product
targeting, pricing optimisation
- Risk management- credit risk, fraud
Market Segments
4
• Data and Analytics
- Legal Issues- Personal Data Privacy- Intellectual Property- Competition/anti-trust
Market Segments
5
• Artificial Intelligence
- Automated advice
- Automated decision making
- Automated product recommendation
Market Segments
6
• Artificial Intelligence
- Legal Issues- Licensing- Personal Data Protection- Negligence
Market Segments
7
• Payments
- P2P fund transfer
- P2P currency transfer
Market Segments
8
• Payments
- Legal Issues- Licensing- Foreign Exchange Control- Anti-Money Laundering- Anti-bribery- Know your client- E-commerce transactions / digital
signatures
Market Segments
9
• Digital Currencies
- Virtual currencies
Market Segments
10
• Digital Currencies
- Legal Issues- Legality- Regulation of the technology- AML- KYC
Market Segments
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• Crowdfunding
- Equity Crowdfunding
- P2P Lending
Market Segments
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• Crowdfunding
- Legal Issues- Licensing- Companies Act- Moneylending- Trustee- Nominee arrangements- AML & KYC
Development
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• BNM Regulatory Sandbox
• Point for consideration:- BNM and SC are the drivers of fintech
in Malaysia- Know who is the relevant regulator
Conclusion
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• More often than not, fintech businesses are regulated
• Engage in discussions with the regulators
• Seek professional advice
Thank you!
Lim Jo Yan
T 6 03 7887 2702
E joyan.lim@mahwengkwai.com
www.mahwengkwai.com