Kenneth Lo

I am a financial services regulatory lawyer, covering payments, capital markets services regulatory and crypto regulatory areas.

I have successfully assisted multiple payment service providers (PSPs) including to obtain major payment institution licences to provide, among other things, digital payment token services and cross-border money transfer services. I have also successfully assisted PSPs vary their licences to add, among other things, account issuance and e-money issuance services into their MPI licence. I advise at length on stablecoin regulations and the use case of stablecoins for PSPs.

I have deep experience with regulator engagement and licensing. Prior to joining Bird & Bird, I was the Deputy General Counsel of a leading a global cryptocurrency firm. I led the Singapore licensing efforts for the crypto exchange, achieving the in-principal approval from the Monetary Authority of Singapore (MAS) for the major payment institution licence. This is significant as the Singapore licence application process is a highly stringent and selective process.

Due to my experience at MAS, I'm able to provide insights from a regulator's perspective which will be beneficial in advising clients. I was an Assistant Director, Enforcement Department (Legal), at MAS advising the authority on money laundering, insider trading, market manipulation breaches, and enforcement actions. I worked on the investigation that led to the first conviction for market misconduct under the joint investigations arrangement between MAS and the Singapore Police Force.

I advise on compliance with securities and banking laws, governance structures, anti-money laundering and fintech.

• Implemented the MAS guidelines on individual accountability and conduct for, among others, an American e-commerce global payments platform, a Swiss private bank, Australian wholesale bank which encompassed training to the Board, senior managers, and material risk personnel, implementing frameworks and reviewing the bank's code of conduct, policies and frameworks.
• Advised a wholesale bank client on Singapore insider trading and market manipulation regulations and drafted a market conduct policy and employee handbook for the client.
• Engagement with MAS' Payments Department and MAS' Fintech and Innovation Group on behalf of multiple crypto clients.
• Advised a global cryptocurrency exchange on various matters, including launching a stablecoin, issues related to its initial coin offering, breach of contract, the application of consumer protection laws and the implementation of AML policies.
• Assisted with the drafting of an outsourcing policy, AML policy, data privacy policy and terms and conditions for a cryptocurrency exchange.