Events
CLINDS’s 20th Law & Digital Society Seminar – ‘The Challenges of Operating a Digital Money Lending Business’ by Mr. James Wong (Online)
24 Mar 2025
6:30 pm – 7:30 pm (HKT)
Online via Zoom
James is a banking and finance lawyer. He focuses on financial services and fintech regulation, and financing.
James’ practice areas cover securities, futures, asset management, funds, payment solutions, virtual assets, regulatory investigations, money lending, AML, data privacy and other financial regimes (stored value facilities, money service operators, trust and company service providers, dealers in precious metals and stones).
He represents several high-profile securities brokerage firms, fintech companies, insurance brokerage firms, fund houses, asset managers, money lenders and banks. He has extensive experience advising on creative business models and drafting standard form documentation.
James also advises multi-national financial institutions in their lending and asset financing transactions.
James was invited to comment on current Anti-money laundering landscape at the RTHK radio show “The Close”.
James is a native English and Cantonese speaker and is also fluent in Mandarin.
https://cloud.itsc.cuhk.edu.hk/webform/view.php?id=13705391
Registration Deadline: 21 March 2025, 2:30 pm (HKT)
Although the Money Lenders Ordinance (which is the primary legislation that governs money lending activity) is drafted in a technology-agnostic manner, its concepts don’t always translate well in the modern, digital space. Online financing / lending platforms face various challenges. For example, certain notes and memorandums have to be signed “personally by the borrower”, which may be difficult to achieve in the online context. Said notes and memorandums also have to contain particulars regarding the amount of the principal of the loan and date of the making of the loan, both of which are difficult to account for in the context of revolving credit facilities. It’s also not uncommon for online financing / lending platforms to provide ancillary services such as e-wallets, payment and virtual credit cards, which begs the question – can these services be provided under a money lender’s licence? Or are additional licenses / authorizations required? All this, and more, will be discussed at the seminar.
Language: English
*CPD credits are available upon application and subject to accreditation by the Law Society of Hong Kong (currently pending).
