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HKMA’s Norman Chan on fintech: “Balance between convenience and investor protection” needed

While the Hong Kong Monetary Authority (HKMA) supports technology and innovation, the regulator wants to see a healthy balance between convenience and investor protection, according to the watchdog’s CEO, Norman Chan. Chan said in a note on the HKMA’s website on Wednesday that irrespective of the technologies adopted by banks, institutions need to ensure that the “fundamental element of banking…

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