Tag Archives: innovation

meps call for acceleration of eu fintech development

Economic and monetary affairs committee MEPs want the EU to accelerate the development of financial services enabled by new technologies (FinTech). Their key priorities are: Cybersecurity and data protection: the need for end-to-end security across the whole financial services value chain and to create more awareness among the consumers regarding the value of their personal […]

FCA speaks on the next phase of Project Innovate

On 10 April 2017, Christopher Woolard, the FCA’s Executive Director of Strategy and Competition delivered a speech at the Innovate Finance Global Summit in London. The speech considers the work of the FCA’s Project Innovate to date including the Regulatory Sandbox initiative. Mr Woolard explained the FCA’s commitment to supporting innovation and its desire for […]

FCA publishes discussion paper on distributed ledger technology

The FCA has published a discussion paper on distributed ledger technology (DLT). The discussion paper describes DLT and acknowledges blockchain as a type of DLT. The FCA invites a discussion on two sets of issues: What new risks and opportunities does DLT present to the FCA’s statutory objectives of market integrity, consumer protection and competition? Can DLT […]

Treasury speaks on Fintech

Simon Kirby, Economic Secretary to the Treasury, spoke at the LSE Global Fintech Investor Forum where he emphasised UK dominance in Fintech innovation. Mr Kirby gave three examples of what others envy in the British system: FCA’s regulatory sandbox, the Bank of England’s Fintech Accelerator and the Fintech Delivery Panel. He also mentioned the Open […]

IAIS highlights Fintech impact

The International Association of Insurance Supervisors (IAIS) has published a report looking at the possible impact of Fintech on key parts of the insurance industry. It says innovations could fundamentally change the way in which the sector serves policyholders, so regulators must be alert to changes and risks. IAIS is concerned Fintech may reduce competitiveness […]

UK and Japan to co-operate on innovator firms

In the latest co-operation agreement between UK and AsiaPac regulators, FCA has exchanged letters of co-operation with the Japanese Financial Services Agency, under which the regulators will provide a regulatory referral service for innovative firms wishing to enter the Japanese market from the UK and vice versa.

FCA announces HK cooperation

FCA has signed a MoU with the Hong Kong Monetary Authority to enable the authorities to collaborate on a number of initiatives such as referrals of innovative firms, joint innovation projects, information exchange and experience sharing. The announcement follows similar agreements with Australia, Singapore, South Korea and China. The aim is to encourage UK firms […]

FinTech bridge to China agreed

Announced as part of the 8th annual UK-China Economic and Financial Dialogue at Lancaster House in London this month, the FCA has signed a Co-operation Agreement with the People’s Bank of China in a bid to share information on promoting innovation in financial services. This is the fourth co-operation agreement signed with AsiaPac countries this […]