FCA consultation sets out plan for a new "global sandbox" to enable innovative firms to interact with regulators around the world
UK Financial Conduct Authority consultation to create a global sandbox or Global Financial Innovation Network (GFIN) to provide a more efficient way for innovative firms to interact with regulators. Three main functions of the proposed GFIN would be: i) to act as a network of regulators to collaborate and share experiences of innovation in respective markets, including emerging technologies and business models; ii) to provide a forum for joint policy work and discussions; and iii) to provide firms with an environment in which to trial cross-border solutions .
Publisher:
National Regulators
Release date:
Aug 2018
Country:
United Kingdom
Type:
Consultative, discussion and issues paper
Topics:
Cross-border cooperation, FinTech, Financial inclusion
Sectors:
Banking, Insurance, Securities
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