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ARTICLE · 03 JULY 2015

FCA Call For Input On Innovation In Digital And Mobile Solutions In Financial Services

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On June 17, 2015, the Financial Conduct Authority issued a call for input, asking two specific questions on digital and mobile solutions for financial services...

United KingdomFinance and Banking
A&O Shearman
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On June 17, 2015, the Financial Conduct Authority issued a call for input, asking two specific questions on digital and mobile solutions for financial services, so that it may obtain market views on: (i) specific UK or EU rules and policies that may currently restrict the development of new and innovative products; and (ii) rules and policies that should be introduced to facilitate innovation in this field. The FCA is asking for specific examples, taking into account both UK and EU perspectives. The call for input also provides a summary on the FCA's considerations related to the digital and mobile space to date, such as the demand for the regulation of digital currencies and concerns about regulatory requirements creating lengthy customer terms and conditions that are deemed not to be appropriate for digital and mobile solutions. Responses to the Call for input are due by September 7, 2015.

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