HK securities regulator to start 'regtech' project in October

Hong Kong

THE Hong Kong securities regulator is due next month to kick off a pilot "regtech" project as part of a broader plan to improve the way the watchdog monitors and detects systemic risk, according to a public tender document and individuals familiar with the plans.

The Securities and Futures Commission (SFC) will team up with a sample group of 20 banks and an external technology firm to overhaul the way it uses financial data, according to the tender document seeking a third party to help the SFC run the project.