11 December 2017
visit www.solutions.lexisnexis.com

Securities Commission Malaysia hones in on fintech innovation

04 September 2015  |  7848 views  |  0 Go!

Securities Commission Malaysia is to draw key stakeholders together in a bid to create a stable ecosystem for the promotion of fintech innovation in the country.

The “Alliance of FinTech Community” or “aFINity@SC” initiative was unveiled at a capital markets symposium in Kuala Lumpur where debate was dominated by discussions on new technology developments in financial markets, including peer-to-peer lending, equity crowdfunding, digital wallets and crypto currencies.

In its capacity as chair of the Malaysian Venture Capital Development Council (MVCDC), the Commission says it will coordinate with other government and regulatory bodies to nurture the fintech ecosystem through the creation of hubs and incubators and by providing clarity around financial rules.

“FinTech companies are driving significant changes in the way financial markets and market players think about and use technology,” the SC said in a statement. "The establishment of aFINity@SC seeks to drive a network of fintech stakeholders to accelerate growth and innovation in this industry."

As a start, the SC says it will issue a call for participation from relevant stakeholders, including innovators, entrepreneurs, established businesses, investors and other authorities to chart the fintech agenda together for Malaysia. It says it will also provide a framework through which the startup community can chart a course through the regulatory environment, assisting new entrants while promoting responsible investments and decision-making.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

OCC may create innovation unit to help banks compete with fintech firms

OCC may create innovation unit to help banks compete with fintech firms

13 August 2015  |  13163 views  |  0 comments | 28 tweets | 10 linkedin
Asic extends Innovation Hub initiative

Asic extends Innovation Hub initiative

06 August 2015  |  6849 views  |  0 comments | 10 tweets | 2 linkedin
Singapore hires Citi veteran to lead new fintech group

Singapore hires Citi veteran to lead new fintech group

28 July 2015  |  11378 views  |  0 comments | 13 tweets | 6 linkedin
Singapore pledges S$225m to fintech

Singapore pledges S$225m to fintech

01 July 2015  |  20740 views  |  0 comments | 35 tweets | 27 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.aciworldwide.comvisit www.solutions.lexisnexis.com

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18246 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11149 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
7114 views comments | 13 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6507 views comments | 8 tweets | 17 linkedin
Barclays, First Direct and Nationwide join FCA sandbox cohortBarclays, First Direct and Nationwide join...
5907 views comments | 5 tweets | 12 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job