The Chief Operating Officer and Executive Director of Authorisations, Emily Shepperd, delivered a speech at City Week 2023, highlighting the role of regulators in fostering innovation and helping firms thrive. She emphasized that regulators can set firm foundations for growth and that addressing regulatory issues early allows firms to grow faster. The Financial Conduct Authority (FCA) has supported innovation through initiatives such as Sandboxes, Innovation Pathways, and Early and High Growth Oversight schemes. The UK remains a top destination for financial technology investment in Europe and is second globally only to the United States. Shepperd discussed the need for legacy institutions to innovate and adapt to changing customer needs, citing the example of a Finnish bank that transformed into a healthcare provider. She stressed the importance of regulators in providing regulatory compliance and creating a high-quality and resilient financial services sector. The FCA itself acts as an innovator and incubator, supporting firms through sandboxes and innovation pathways. Shepperd also mentioned the FCA’s work in the crypto sector, collaborating with stakeholders to find a way forward with regulation. She concluded by encouraging firms to engage with the FCA’s initiatives to navigate regulation and promote growth in the financial services industry.
HomeDIGITAL ASSETS REGULATORYregulation uk newsRegulation's Role in Boosting the UK's Fintech Leadership: A City Week Discussion