Advising an emerging technology company on providing RegTech and consultancy services to MSOs in Hong Kong and service-providers carrying out equivalent or similar business(es) in other territories.
Our client has extensive experience and expertise in providing money changing and remittance services throughout the globe. With the regulatory requirements under the Anti-Money Laundering regime becoming more and more rigorous and sophisticated, it has come to our client’s attention that its fellow Money Service Operators (“MSOs”) have various difficulties in complying with the same due to the complexity. With a view to lend a hand to its fellows and expand its own business at the same time, our client set up a new tech company aiming to provide RegTech and consultancy services to MSOs in Hong Kong and their counterparts in other jurisdictions. We advised our client on the relevant terms and conditions for provision of the RegTech and consultancy services.