By Noline Matemera
On 27 July 2018, HM Treasury published a response to its April 2016 consultation on claims management secondary legislation.The consultation response document summarises the responses received and confirms the final approach to defining the scope of claims management activities for the purposes of FCA regulation. It also sets out the government’s policy intent for transitional provisions.
On 7 August 2018, the Financial Conduct Authority (FCA) published a consultation paper on the creation of a Global Financial Innovation Network (GFIN). The network will seek to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas. It will also create a new framework for co-operation between financial services regulators on innovation related topics, sharing their different experiences and approaches.