Sara S. M. Or

Financial Services M&A, Fund Formation & Investment Management, Cybersecurity & Data Privacy


Clients regularly come to Sara Or for advice on:

  • Banking, securities, and insurance regulations, including the regulatory regimes on stored value facilities, payment systems, e-payment initiatives, and money services; and on non-traditional investments such as cryptos
  • Structuring/setting up/operating businesses
  • Strategy
  • Regulator enquiries/inspections/investigations

Clients leverage her strong working relationships with both financial institutions and regulators (including the Hong Kong Monetary Authority, the Securities and Futures Commission, and the Insurance Authority), and 30+ years of deep experiential knowledge on market practice and supervisory philosophies of regulators.

Sara speaks English, Cantonese and Mandarin.


Licensing, Regulatory and Compliance


  • Clients on the regulation of stored value facilities (SVF) and mobile / e-wallets, including obtaining the SVF licence .
  • Clients on the regulation of non-traditional investment or funding arrangements, including cryptos and crypto-related investment arrangements, funding for start-ups, and crowdfunding.
  • Industry bodies on legislative amendments and developments, including the statutory changes relating to the regulatory regime on cryptos.
  • Virtual banks on products and services offerings, including preparing the client-facing documentation.
  • Clients on, the enactment of the Securities and Futures Ordinance in replacement of the Securities Ordinance and other statutes then governing the securities market, the public consultation on the establishment of an independent insurance authority to replace the previous regulatory body which was a governmental agency, the enactment of the Personal Data (Privacy) Ordinance and public debates on handling of consumer credit data, and the global financial crisis in 2008 and ongoing evolution of the regulatory landscape.


  • Leading Individual - Who’s Who Legal: Banking
  • Acritas Star – Acritas Stars Report
  • An "“Up-and-Coming"” Financial Services Lawyer – Chamber Asia Pacific
  • "Quality advice and timely service"– Chambers Asia Pacific
  • Nominated as a Leading Financial Services Regulatory Lawyer – IFLR1000


  • The University of Hong Kong, LLB


  • Hong Kong


  • Englisch
  • Kantonesisch
  • Mandarin


  • Member, Hong Kong Securities Institute
  • The Investment Products and Financial Services Committee Member, The Law Society of Hong Kong