UK:
Supporting FinTech In The UK: The FCA's Project Innovate
11 January 2016
Reed Smith (Worldwide)
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Jacqui Hatfield and Melanie Shone have recently published an
article in Finance Monthly, examining the performance of the
FCA's Project Innovate. The authors caution that "any new
rules, specific to a particular technology, may quickly become
obsolete as the pace of development in the FinTech space outstrips
the speed of regulatory response. It is therefore essential that
regulatory rules are as technologically neutral and forward
thinking as possible – and that these are combined with
proactive industry engagement and appropriate practical guidance
from the FCA to provide much-needed regulatory certainty and
clarity to the industry". The authors foresee a bumpy road
ahead as industry participant and regulators navigate the potential
conflicts between regulatory aims and disruptive FinTech
innovation.
A full copy of the article for Finance Monthly can be accessed here.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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