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Samantha Lai

Samantha Lai is an Associate in Baker McKenzie Hong Kong office.

As a sponsor at the 2021 Hong Kong Fintech Week, Baker McKenzie moderated several panel discussions and hosted a couple of virtual masterclasses, including one on the topic “ESG Investing and Fintech.” In this session, our speakers discuss key considerations and opportunities in ESG investing and its impact on technology. They also looked at strategies some fintech businesses are adopting to respond to the new regulatory landscape, as well as emerging sustainability opportunities in this sector.

The Hong Kong Securities and Futures Commission (SFC) recently released additional guidance on external electronic data storage in the form of frequently asked questions (FAQs)1, which elaborate on the requirements for using external electronic data storage providers (EDSPs) under the SFC’s 31 October 2019 circular (“EDSP Circular”)2. The FAQs provide further guidance on the following key aspects: (i) key personnel requirements for the purpose of the EDSP Circular; (ii) the application of the EDSP Circular where electronic regulatory records are kept with affiliates; and (iii) the use of undertakings by designated Manager(s)-in-Charge (MIC(s)) / Responsible Officer (RO) (“MIC/RO Undertaking”) as acceptable alternatives to the undertakings provided by the EDSPs (“EDSP Undertaking”). We discuss the implications in these areas further below. The SFC has also made consequential changes to its Frequently Asked Questions on premises for business and record keeping3.