Crusader for fintech rules

Failing to regulate fintech or Big Tech is not unlike ignoring shadow banking activities, says Standard Chartered chairman Jose Vinals - and he's optimistic about the Herculean task of coordinating global regulation.

Published Fri, Aug 10, 2018 · 09:50 PM

Standard Chartered

STANDARD Chartered chairman Jose Vinals will have you know that he succumbs to temptation, and his sin of choice today is biscotti. "Leave it here, leave it here," he says, pointing to the plate of almond biscuits, and then unwrapping the cling film over it. "I like sweet a lot. Too much."

Just a little appetiser before the main course - a clear-eyed tour of financial regulation - as the banker-economist taps his years of experience as a director in the International Monetary Fund (IMF), from which he went on to helm StanChart as group chairman in late 2016.

And top of his mind is greater regulation for fintech and other online companies that are growing their line of banking products. Mr Vinals thinks they have gotten a sweeter deal than they should have, and that the treats should have been rolled back some time ago.

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