The Financial Conduct Authority has signed an agreement with Hong Kong regulator the Securities and Futures Commission to share knowledge about fintech Innovation.
The FCA’s ‘Project Innovate’ and the SFC’s ‘Fintech Contact Point’ will be at the centre of the ‘co-operation agreement’, which will see the regulators trade innovation plans.
Christopher Woolard, executive director of strategy and competition at the FCA, said: “Co-operation agreements are absolutely vital in fostering an environment of fintech innovation on a global scale.
“In the last few months alone we’ve signed agreements with colleagues in China, Japan, Canada and the Hong Kong Monetary Authority.
“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.”
Project Innovate sits within the FCA’s strategy and competition department.