The Government has released its Financial Innovation Strategy which sets out government and regulatory proposals to support a more innovative financial system, allowing industry to engage and drive the innovation itself.
This article provides a high-level overview of the focuses. In a range of these focus areas, we anticipate targeted consultation or guidance to follow.
Financial Innovation Committee
A Financial Innovation Committee will be established to act as a bridge between government, regulatory and industry, identifying strategic priorities and opportunities for collaboration between the parties. It will provide a forum for the parties to discuss improvements to regulatory, policy and market settings, and to share insights on market developments in this area.