The lack of innovation at the SFC over the last 15 years has been incredible. It appeared to be more about being on the look-out for deviation from the norm rather than laying the rules to enable Hong Kong to be the centre of well regulated financial service innovation.
Under CY's watch the SFC are finally looking forward and investigating new financing options that aren't in the traditional remit of the established industry players.
Bitcoin and crowd-funding both if properly regulated can offer more strings to the bow of the Hong Kong market. This coupled with the push in trying to steal more maritime finance and service from London with a new policy body all appear to be worth exploring.
Beyond bitcoin: will Hong Kong ‘disrupt’ and shape the future of finance by embracing blockchain technology? | South China Morning Post
SFC weighing new British approach that legitimises crowd funding for start-ups | South China Morning Post
news.gov.hk - New maritime body to promote HK