Malaysia Fintech Regulatory Developments - August 2017
SC partners with Aussie regulator to drive fintech
The Securities Commission Malaysia (SC) entered into an innovation cooperation agreement with the Australian Securities and Investments Commission (ASIC) to further promote innovation in financial services in their respective markets. SC has recently been pro-active in financial technology, introducing regulations and initiatives such as equity crowdfunding, peer-to-peer financing, digital investment management services. SC also launched the "Alliance of Fintech Community" to engage with the growing financial technology community in Malaysia.
ASIC enters into fintech cooperation with Malaysia’s MSC
The Australian Securities and Investments Commission (ASIC) entered into a fintech co-operation agreement with the Malaysia Securities Commission (SC). The arrangement provides a framework for ASIC to work more closely with the Malaysian regulators. Australian fintech businesses wishing to operate in Malaysia will now have a simple pathway for engaging regulators, and vice versa.
Labuan signs MOU with Abu Dhabi
Labuan International Business and Financial Centre (Labuan IBFC), Labuan Financial Services Authority (Labuan FSA) and Abu Dhabi Global Market (ADGM) signed two memorandums of understanding (MoUs) to co-operate on joint financial activities and regulatory practice. The cooperation will also explore mutually beneficial long-term opportunities in infrastructure financing, new innovations in areas of financial technology (fintech) and green finance.
For full version of Collyer-Bytes, please contact Isa.Seow@collyerlaw.com to subscribe.