View more on these topics

FCA enters agreement with Hong Kong’s Securities and Future Commission

The Financial Conduct Authority has entered into a co-operation agreement with the Securities and Futures Commission in Hong Kong to ‘foster collaboration in support of financial technology innovation’.

Under the agreement, the FCA and SFC will co-operate on information sharing and referrals of innovative firms seeking to enter one another’s markets.

FCA executive director Christopher Woolard, says: “Co-operation agreements are absolutely vital in fostering an environment of Fintech innovation on a global scale. In the last few months alone we’ve signed agreements with colleagues in China, Japan, Canada and the Hong Kong Monetary Authority. Working with other regulators internationally, we want to build a common understanding of the principles of good innovation and we look forward to working closely with the SFC.”

The FCA also signed an agreement with the Hong Kong Monetary Authority in December 2016.

SFC chief executive Ashley Alder says: “This agreement will help both regulators stay abreast of innovation in financial services while providing innovative Fintech firms seeking to develop and grow their businesses internationally with enhanced channels for communicating with regulators.”

 The agreement follows the creation of the FCA’s Innovation Hub in 2014 and the SFC’s Fintech Contact Point in 2016.



FCA warns of scammers trying to steal consumer cash

The Financial Conduct Authority is warning consumers about a spate of scammers pretending to be from the regulator. The FCA yesterday said several customers had been called to ask for money led from addresses such as Some of the fake emails contain the FCA logo in a bid to look more convincing. The fraudsters often […]


Equity release market split on FCA qualification decision

The equity release market is divided about the Financial Conduct Authority’s decision not to bring in a standalone qualification for lifetime mortgages. Earlier today the FCA confirmed it would not bring in the separate qualification, mooted in a consultation last September. Firms such as Old Mutual Wealth and Retirement Advantage back the standalone qualification, but […]


News and expert analysis straight to your inbox

Sign up