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FCA speaks on tech activism

Nick Cook, FCA’s director of innovation, has spoken on the need for regulators to keep up to speed with innovation.  He spoke about:

  • the continuing success of the FCA sandbox and the high proportion of firms that pass through it who are already, or soon to be, authorised;
  • increasing international collaboration and FCA’s ties with other regulators; and
  • actively stimulating innovation in areas where FCA sees tech has the potential to deliver maximum benefits.  It has identified GreenTech as a priority as well as its now well-rooted drive to use tech in financial crime prevention compliance.

He noted that the RegTech market cannot currently fully service regulatory needs – largely because the regulated market needs better to articulate those needs,

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Emma Radmore