Regulatory Ramblings
Welcome to Regulatory Ramblings, a new podcast from a team at The University of Hong Kong on the intersection of all things pertaining to finance, technology, law and regulation. Hosted by The Reg/Tech Lab, HKU-Standard Chartered FinTech Academy, Asia Global Institute and the HKU-edX Professional Certificate in FinTech, with support from the HKU Faculty of Law. Join us as we hear from luminaries across multiple fields and professions as they share their candid thoughts in a stress-free environment - rather than the soundbites one typically hears from the mainstream press.
Regulatory Ramblings
Bénédicte Nolens: Building a Bridge with CBDC
We are joined by Bénédicte Nolens, head of the Bank for International Settlements’ (BIS) Innovation Hub (Hong Kong Centre), in a full-length conversation on central bank digital currencies (CBDCs) and the concerns around their legal and compliance issues.
In its published report on the mBridge pilot scheme – a multi-CBDC initiative for cross border payments involving the central banks of China, Hong Kong, Thailand and United Arab Emirates – Bénédicte explains Project mBridge’s potential for using a common platform based on distributed ledger technology (DLT), and whereby multiple central banks can issue and exchange their respective CBDCs. As cloud computing raises concerns about governing data and privacy, Bénédicte also emphasized the need for legal talent to pursue computer science qualifications in order to take on the evolving language of coding within new technologies.
Topics discussed also included women-led management in the finance and legal sectors, work-life balance during the COVID-19 pandemic and more.
Prior to becoming head of the BIS Innovation Hub, Hong Kong Centre. Prior to this appointment, Bénédicte was a managing director at SC Ventures – the innovation arm of Standard Chartered Bank, which leads new ventures across digital banking, banking as a service, SME finance and blockchain. From 2018-2019, she was the vice president of international governmental relations at Circle, involved in the evolution of blockchain and digital assets. From 2012-2018, she was the head of risk & strategy of the Hong Kong Securities and Futures Commission (SFC) and in that capacity, also acted as vice chair of the Committee on Emerging Risks and the Fintech research lead for the International Organization of Securities Commissions (IOSCO). From 2007-2012, she was a managing director at Credit Suisse and before that, from 1997-2007, she was an associate and executive director at Goldman Sachs. Originally from Belgium, she holds LL.M. and M.B.A. degrees from the University of Leuven and University of Chicago, respectively. Since 1999, she has been a member of the New York Bar. In 2016, she was a recipient of the China Daily Asian Women Leadership Awards for her efforts related to entrepreneurship, innovation and charity. She remains closely engaged in these topics, most recently through her involvement in the Fintech Association of Hong Kong (FTAHK) and Women in Finance Asia (WiFA.)
This episode is part of HKU FinTech Day 2022 special.
HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.