| Link(s): https://www.fca.org.uk/news/speeches/levelling-playing-field-innovation-service-consumers-and-market |
Context
Nikhil Rathi, CEO of the FCA, has given a speech at the FCA’s FinTech Week.
Key points to note
- Success in financial innovation has been enabled by regulatory open-mindedness.
- Support for innovation has been matched by action to protect consumers and markets.
- The FCA will be taking forward the Kalifa Review’s recommendation for a Scalebox, including the creation of a regulatory nursery.
- Online search and social media firms need to take greater responsibility for their role in connecting consumers with investment offers.
- The FCA also needs to make sure that its internal processes allow for quick action; accordingly it is currently reviewing how its Regulatory Decisions Committee functions.
Next actions
None – for information only