Based in Hong Kong and established since 2017, Pgy is a premier consulting firm who acts as our clients’ trusted advisor, offering regulatory and compliance services. We specialize in serving financial institutions (including broker dealers, investment banks, asset management firms, retail and commercial banks and fund houses), crypto operators/ projects, fintech and other organizations. Possessing extensive regulatory and compliance knowledge, insights in relevant regulations and hands-on knowhow in the financial industry and crypto space, fusing experiences in in-house securities firms and banks, we understand our clients’ businesses and needs, which enable us to provide workable, all-encompassing solutions for them.

Our solutions

Pgy helps you manage regulatory risks and identify opportunities in all stages of regulated or non-regulated entities and some of our key solutions (project-based or ongoing support) and examples:

Compliance Framework, Policies & Procedures

• Advise / assist in the drafting of risk management and compliance frameworks, policies and procedures

Corporate & Individual Licensing

• SFC licensing work – new applications, addition of regulated activities, uplifts or return
• Substantial shareholder changes
• Change of business plans
• Other licences including TCSP

Business Compliance Advisory: Product / Service Development

Provide business compliance advisory for all types of regulated and unregulated business activities / products:

• Funds setup, OFC or BVI / Cayman funds etc.
• Offshore derivative trading
• Marketing materials
• Virtual asset (VA) businesses, including exchanges, VA funds, VA OTC trading, VA structured products etc.
• Tokenization

Compliance review & inspection support

• Gap analysis, compliance health check and compliance review with remediation support
• Advise in the preparation and ongoing support for inspection
• Advise / support in enforcement investigation

Regulatory Updates & Training

• Periodic updates of regulatory changes with support to assist in implementation of such changes
• Pgy eLearning Platform, with interactive course content, assessment and certification to meet SFC’s CPT requirements

Why work with us

In addition to regulatory and compliance requirements, we are familiar with on-the-ground operational processes, internal control requirements, and usual business practices of virtual asset companies, FinTech companies, and financial institutions. We pride ourselves for giving practical solutions for clients to address their problems or issues effectively and efficiently.

We obtain licences and provide ongoing compliance support for a wide range of business activities conducted by SFC licensed corporations and HKMA authorized institutions with an impeccable successful track record.

Virtual Assets Related Experience

Our clients make up 40%+ of the licensed virtual asset market share. Pgy advised 39 out of the 90+ licensed corporations conducting virtual asset (VA) related businesses listed in the SFC’s register, including the majority of VA trading platforms (VATP), VA portfolio managers, VA dealing and VA advisory entities. As a pioneer and leader in VA regulatory advisory since 2018, Pgy advised and assisted the approvals of the first full VATP licences and deemed VATP licences.

We also assisted in obtaining one of the first SFC licences to distribute tokenised securities and advised on the setup of the first tokenised fund investing in real-world aviation assets.

TradFi Experience

Our experience with traditional financial includes:

• Setup of various SFC licensed corporations (e.g. Type 1, 2, 4, 6 & 9 regulated activities) from licensing to operation
• Advised various IT solution companies (those who specialize in blockchain solution, RegTech, electronic trading system for financial institutions) on relevant regulatory and compliance issues
• Assisted a virtual bank applicant in designing its compliance framework and detailed program for non-face-to-face client onboarding process
• Assisted in the setup of a Hong Kong Branch of a PRC Bank from licensing to operation
• Advised in the setup of policies, compliance programs, risk management framework and standard documentation in relation to new complex products.