Here’s what they said
The city regulator, the Financial Conduct Authority (FCA) and Hong Kong’s Insurance Authority (IA) are now working together after they struck an agreement, to develop industry.
Christopher Woolard of the FCA said: “By working together, regulators help support global innovation in fintech.
“We look forward to working closely with the IA to promote innovation and enhance synergy for both markets, which will in turn benefit our consumers and financial industry as a whole.”
Chief executive of the IA, John Leung said: “The agreement would foster fintech development in the international arena by assisting fintech firms to explore new areas of growth and business opportunities outside the home jurisdiction.”
“The IA will consider signing similar cooperation agreements with insurance regulators in other jurisdictions.”