View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
March 10, 2017

Japanese, British regulators sign fintech co-operation agreement

The Financial Services Agency of Japan (JFSA) and the UK’s Financial Conduct Authority (FCA) have signed an agreement to expand cooperation on fintech.

By Verdict Staff

The Financial Services Agency of Japan (JFSA) and the UK’s Financial Conduct Authority (FCA) have signed an agreement to expand cooperation on fintech.

Under the agreement, the regulators will refer to each other’s innovator businesses that would like to operate in the other authority’s jurisdiction.

Upon a referral being received, the regulators will help fintech firms to understand regulatory requirements, minimise regulatory uncertainty and the time-to-market.

The two regulators also committed to share information about emerging fintech trends and regulatory issues pertaining to innovation.

JFSA vice commissioner for international affairs Shunsuke Shirakawa said: “This is our first case in creating a pro-FinTech Co-operation Framework with any other countries. We believe that this Exchange of Letters strengthens the relationship between the JFSA and the FCA and promotes innovation in our respective markets.”

FCA executive director of strategy and competition Christopher Woolard said: “Today’s Exchange of Letters with the JFSA will help break down barriers to entry both in Japan and in the UK for firms with interesting new business services and products.”

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International