Featured Product

    FCA Launches Innovation Pathways Initiative to Support Fintech Firms

    April 04, 2022

    The Financial Conduct Authority (FCA) launched a CryptoSprint as well as a support service called Innovation Pathways, which is intended to remove barriers to entry for firms looking to innovate or launch new products, including automated advice and guidance. It also published insights on the financial sector firms and technology to be supported by the Regulatory Sandbox and Innovation Pathways, including firm sizes, sectors, and locations.

    In addition, FCA issued eligibility criteria and guidance documents on Innovation Pathways and Regulatory Sandbox. FCA also published an authorization guide for firms developing automated advice models. This guide applies to firms that are seeking authorization and change in permissions, identifies key themes that firms should consider before applying, and is based on the experience of firms that have previously applied. As per FCA, data show that a high proportion of firms that use its innovation services successfully become authorized. Entities wishing to test an innovative new financial services product with real customers in a live environment can apply to the Regulatory Sandbox. Innovation Pathways combines the direct support and advice unit services of FCA; it is a bespoke support service that is aimed to help firms to launch innovative products and services for consumers and to promote innovation by:

    • helping innovative firms understand how regulation relates to their activities
    • removing barriers to entry through ongoing monitoring of rules
    • clarifying existing rules in relation to new business models
    • helping firms understand their obligations as regulated firms


    Related Links

    Keywords: Europe, UK, Banking, Insurance, Securities, Fintech, Regtech, Regulatory Sandbox, Innovation Pathways, Suptech, DLT, Blockchain, Crypto-Assets, Crypto Sprint, FCA

    Related Articles

    EBA Sets Out Roadmap for 2023, Updates Reporting Framework 3.2

    The European Banking Authority (EBA) published its work program for 2023 as well as the technical package for phase 3 of version 3.2 of its reporting framework.

    September 30, 2022 WebPage Regulatory News

    FED Announces Launch of Climate Scenario Analysis Exercise in 2023

    The Board of Governors of the Federal Reserve System (FED) announced a pilot climate scenario analysis exercise for six largest banks in the U.S.

    September 29, 2022 WebPage Regulatory News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8523