On February 19, The US Commodity Futures Trading Commission (“CFTC“) and the UK’s Financial Conduct Authority (“FCA“) signed an arrangement that commits the regulators to collaborating and supporting innovative firms through each other’s financial technology (“FinTech“) initiatives — LabCFTC and FCA Innovate. This is the first FinTech innovation arrangement for the CFTC with a non-U.S. counterpart.
The Cooperation Arrangement on Financial Technology Innovation (“FinTech Arrangement“) focuses on information-sharing regarding FinTech market trends and developments. It also facilitates referrals of FinTech companies interested in entering the others’ market, and sharing information and insight derived from each authority’s relevant sandbox, proof of concept, or innovation competitions. Release.
