FCA Innovate: What next for Project Innovate?
Held on Thursday, June 7, 2018
Anna Wallace (FCA)
Peter Randall (SETL)
Andy Davis (Prospect)
The FCA launched Project Innovate in 2014 – and, by any measure, it has been a notable success. We all know about the regulatory “sandbox”, but there is also an advice unit and several initiatives aimed at collaboration, knowledge sharing and providing feedback.
Of course, the FinTech scene is changing – and Project Innovate is changing with it. In its 2018/2019 Business Plan, the FCA highlighted the potential of Big Data, the global appeal of the “sandbox”, the development of RegTech, advanced analytics, crypto and a review of crowdfunding. It also called for creation of a global alliance of regulators to encourage growth in FinTech. All of this in grist to the CSFI’s mill, and we are, therefore, delighted that Anna Wallace, head of Innovate at the FCA (and recently back from maternity leave), has agreed to kick off a discussion of the FCA’s programme and priorities.
However, (I hope) she won’t get things all her own way. Heading the response we have:
- Peter Randall, the CEO of SETL – a multi-asset, multi-currency payment and settlement infrastructure based (drumroll, please) on blockchain technology, that has benefited greatly from Innovate support. Prior to joining SETL, Peter was founding CEO of Chi-X Europe.
- Andy Davis is financial editor at Prospect and a finance editor of FT Weekend. He is also the author of two CSFI reports – Seeds of Change (2012) and From Peer to Here (2017).
The FCA’s support is crucial to the UK’s continued competitiveness in the FinTech space. If you would like to join us (and, perhaps, add your own thoughts), please let us know by emailing firstname.lastname@example.org or by calling the CSFI on 0207-621-1056. As usual, wine and sandwiches will be provided.