In the 3rd instalment of our APG (ASEAN Plus Group) Fintech webinar series, we are delighted to bring you insights on how COVID-19 has accelerated the growth of Digital Payments and the digital transformation of Financial Services in Australia, South Korea and Taiwan.
APG (ASEAN Plus Group) is a group of full-service and well-established law firms in Asia, with strong local knowledge and international expertise. The group functions as a bridge for our clients to venture regionally with confidence. APG provides clients direct access to 14 lucrative markets in the region, including Singapore, Australia, Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Malaysia, Philippines, South Korea, Taiwan, Thailand and Vietnam. Together our APG team is not only attuned to the nuances of working in Asia, but also possesses the added perspective and expertise of an international firm.
| Regulation of digital payments and financial services | |
| Other considerations for FintechCybersecurity and data privacyConsumer data right and open bankingInvestments (venture capital, equity capital market fundraising, peer-to-peer lending, initial coin offerings)Licensing, trade marks and brand protectionASIC Innovation Hub and Regulatory SandboxForeign AFSLTax incentives | |
| Opportunities arising from COVID-19Move away from cashSocial distancingGig EconomyLow operation costWhich industries benefitted | |
| Threats arising from COVID-19Bad debtInvestmentWhich industries are hardest hit |
| Aaron Lee Of Counsel RHTLaw Asia | Aaron Lee is a law graduate of the National University of Singapore and has 20 years’ experience in international and business law, policy-making and government relations, in both the civil service and financial institutions. His career included 14 years in governance and regulatory compliance (including responsibility for the Asia-Pacific region) for European banks in Singapore. He has been appointed expert witness in a number of court cases involving banks and financial crime. Since 2017, he has advised fintech companies in the payments services sector. |
| William Khong Partner Holding Redlich | William is a Partner at Holding Redlich with over 20 years legal experience. He started his legal career as a solicitor in Malaysia where he gained experience in intellectual property (from registration and commercialisation to enforcement) and commercial litigation. He has subsequently, while practising in Australia, gained further experience in commercial and taxation law matters. William has particular experience in advising in relation to business structuring or restructuring, mergers and acquisitions, public and private capital raisings, corporate affairs, corporate governance and matters relating to the law of trusts. He is an enthusiast of all things related to information technology and with the advent of fintech, it was an opportunity for him to work and advise on an area of law that is both exciting and growing. |
| Timothy Dickens Senior Foreign Attorney Daeryook & AJU (DR&AJU) | Tim Dickens is an African-British attorney who joined DR & AJU in 2013. He heads the firm’s International Arbitration Team and the Europe and Africa desks. Tim has been an attorney since 2005 and primarily practices in the Litigation & Disputes Team at DR & AJU, specializing in litigation, dispute resolution, international arbitration, and cross-border transactions. He also advises clients on IT and Tech related issues and has advised amongst others, Tencent, AWS, IKEA, eBay, Revolut, Farfetch and Spotify in this regard. Tim is also a panelist for the Korean Commercial Arbitration Board and chairman of the South African Chamber of Commerce in Korea. He has also been recognized for his pro bono work aiding Korean SMEs’ exporting efforts as a counselor for the Ministry of Justice. |
| Eddie Hsiung Associate Partner Lee and Li | Eddie is licensed to practice law in Taiwan and New York, and is also a CPA in Washington State, U.S.A. His practice focuses on securities, M&A, banking, finance, asset and fund management, cross-border investments, general corporate and commercial, FinTech, startups, etc. He regularly advises leading banks, securities firms, payment/credit cards and other financial services companies on transactional, licensing and regulatory/compliance matters as well as internal investigation. He is experienced in advising asset management companies and issuers on sale of offshore funds and other investment products in Taiwan. He is familiar with legal issues regarding the application of new technologies such as fintech (e-payment, digital financial services, and regulatory sandboxes) and blockchain (ICOs, cryptocurrencies, platform operators) and AI, and is often invited to participate in public hearings, seminars and panel discussions in these areas. |
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