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FCA to push for global fintech regulations

Wednesday 12 April 2017 | 10:59 AM CET

The UK`s Financial Conduct Authority (FCA) has called for an international regulatory framework to be applied to fintech startups in order to prevent a \'Wild West\' approach to governance of the sector.

Setting international standards for the booming fintech sector will be key in ensuring it does not suffer reputational setbacks. Setting out a common framework for innovation best practices will help to fend off rule fragmentation and secure the long-term future of the industry.

The comments were made by Christopher Woolard warned at the Innovate Finance Global Summit 2017.

He also said the UK will be working with both the G20 and IOSCO to develop more global consensus around the issue.

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