The need for wealth managers and external asset managers (EAM) to comply with regulatory requirements has heightened with the stringent Data Protection Acts such as Singapore Personal Data Protection Act (PDPA SG), The Personal Data (Privacy) Ordinance (PDPO HK), and General Data Protection Regulation (GDPR EU) and as well as the regulatory framework established by the respective central banks like MAS and HKMA.

In this report, the Privé Team summarized our findings on these national data security laws in Hong Kong, Singapore, and Taiwan and why tokenization is the ideal solution for wealth managers and EAMs, who look to increase their security in order to meet the heightened requirements.