The UK’s Financial Conduct Authority (FCA) has signed a co-operation agreement with Hong Kong’s Securities and Futures Commission (SFC) to enhance collaboration in the fintech space.

The agreement will allow the two regulators to exchange information and refer innovative startups looking to foray into one another’s markets.

FCA executive director of strategy and competition Christopher Woolard said: “Working with other regulators internationally, we want to build a common understanding of the principles of good innovation and we look forward to working closely with the SFC.”

SFC CEO Ashley Alder added: “This agreement will help both regulators stay abreast of innovation in financial services while providing innovative Fintech firms seeking to develop and grow their businesses internationally with enhanced channels for communicating with regulators.”

In December 2016, FCA inked a fintech agreement with the Hong Kong Monetary Authority. Earlier last year, the UK watchdog also signed similar agreements with the Financial Services Agency of Japan (JFSA), Ontario Securities Commission (OSC), People’s Bank of China (PBOC).

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.