Guide to Promoting Financial & Regulatory Innovation: Insights from the UK

55 Pages Posted: 30 Jun 2020

See all articles by Kieran Garvey

Kieran Garvey

University of Cambridge - Cambridge Centre for Alternative Finance

Wenwei Li

Zhejiang University

Ben Shenglin

Zhejiang University

Bryan Zheng Zhang

Cambridge Centre for Alternative Finance, Cambridge Judge Business School, University of Cambridge

Philip Rowan

University of Cambridge - Cambridge Centre for Alternative Finance

Michel Rauchs

University of Cambridge - Cambridge Centre for Alternative Finance

P. Raghavendra Rau

University of Cambridge

Tania Ziegler

University of Cambridge - Cambridge Centre for Alternative Finance

Hao Rui

University of Cambridge - Cambridge Centre for Alternative Finance

Date Written: March 10, 2018

Abstract

This guide has been created with the purpose of reviewing, synthesising and distilling the various regulation innovation initiatives of the Financial Conduct Authority in recent years with a primary focus on Project Innovate and in particular, the much-lauded Innovate Regulatory Sandbox which has been replicated in well over twenty countries to date. The guide seeks to provide valuable insights into the UK’s experience of fostering financial innovation for the benefit of other regulators and authorities seeking to address and stimulate both financial and regulatory innovation in their respective jurisdictions and for their objectives.

While this guide has been designed to be widely accessible to those interested in the FCA’s innovation activities, this project emerged from an initiative led by the UK Foreign & Commonwealth Office (the FCO) to primarily assist regulators and policymakers in China to understand and gather insights on the UK’s financial innovation activities. The project emerged from a collaboration between the research teams at the Cambridge Centre for Alternative Finance and the Academy of Internet Finance at Zhejiang University, China.

Keywords: FinTech, Regulatory Sandboxes, RegTech, Innovation Office, Innovation Offices, UK, China, FCA, FCO,

JEL Classification: K2, O3, O31, O33, O38, O47, O57

Suggested Citation

Garvey, Kieran and Li, Wenwei and Shenglin, Ben and Zhang, Bryan Zheng and Rowan, Philip and Rauchs, Michel and Rau, P. Raghavendra and Ziegler, Tania and Rui, Hao, Guide to Promoting Financial & Regulatory Innovation: Insights from the UK (March 10, 2018). Available at SSRN: https://ssrn.com/abstract=3621277 or http://dx.doi.org/10.2139/ssrn.3621277

Kieran Garvey (Contact Author)

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

Wenwei Li

Zhejiang University ( email )

38 Zheda Road
Hangzhou, Zhejiang 310058
China

Ben Shenglin

Zhejiang University ( email )

38 Zheda Road
Hangzhou, Zhejiang 310058
China

Bryan Zheng Zhang

Cambridge Centre for Alternative Finance, Cambridge Judge Business School, University of Cambridge ( email )

Trumpington Street
Cambridge, CB2 1AG
United Kingdom

HOME PAGE: http://www.jbs.cam.ac.uk/ccaf

Philip Rowan

University of Cambridge - Cambridge Centre for Alternative Finance

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

Michel Rauchs

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

P. Raghavendra Rau

University of Cambridge ( email )

Cambridge Judge Business School
Trumpington Street
Cambridge, Cambridgeshire CB21AG
United Kingdom
3103626793 (Phone)

HOME PAGE: http://www.raghurau.com/

Tania Ziegler

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

Hao Rui

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

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