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On December 1 2017, partial amendments to the Act on Specified Joint Real Estate Ventures (Amended Act) came into force. The Amended Act is aimed at making the specified joint real estate ventures system more accessible. The following is a brief summary of the new business categories established by the Amended Act.

Two years have passed since the Monetary Authority of Macau (AMCM) organised the Development of Financial Leasing Business in the Macau SAR forum in Beijing. The purpose of the forum was to promote the implementation of Macau SAR (MSAR) governing lines for the development of the MSAR financial leasing system and to leverage MSAR as a platform between China and Portuguese speaking countries, and between the Greater Bay Area and Europe, within the Greater Bay Area initiative and China's One Belt One Road initiative, a position reiterated in the 2018 governing lines. Since the forum, China and Hong Kong SAR's banking and financial institutions have shown increased interest in Macau's financial leasing business. These financial institutions have a certain degree of expectation on the amendments that will be introduced to the present legal systems and that additional benefits will be created in relation to financial leasing companies' operations from and to MSAR. So far, two financial leasing companies have been incorporated and their operations authorised in Macau, in addition to the general authorisations that have been issued for banks to operate in Macau.

Recent case law involving financial institutions confirms the ongoing viability of the Bankruptcy Code’s provisions

Yuri Suzuki and Takafumi Ochiai of Atsumi & Sakai look at efforts made by the financial and tax regulator to tackle digital currencies

Joon Young Kim, Seung Jae Yoo and Bomi Chen, from Kim & Chang provide an overview of regulations for distributed ledger technoloy, blockchain and smart contracts

Jake Robson and Nick Davies from the Singapore office of Morrison & Foerster LLP, highlight how joint ventures or strategic M&A can often be the most effective way to roll out and scale up a fintech product offering in multiple jurisdictions in southeast Asia

Hyun Koo Kang and Yongsoo Yoon of Lee & Ko provide an overview of the Korean government’s interventionist stance

Maria Sagrado and Yanuar Pribadhie, of Makarim & Taira S., discuss the country’s central bank’s regulatory sandbox initiative for fintech players

The main steps a company must take are changing, as are the biggest risks to the financial sector

Soonghee Lee and Jae Ryun Cho from Yoon & Yang analyse new Financial Services Commission guidelines implemented in January 2018 that aim to regulate cryptocurrencies and anti-money laundering