The evolving framework of UK fintech regulation

Rather than craft a bespoke solution, United Kingdom regulators believe that the existing regime adequately provides for regulated activities involving new and developing financial technologies. Penny Sanders and Ian Mason discuss where some popular fintech-related products and services sit in relation to the regulatory perimeter.

Penny Sanders is director and Ian Mason is a partner heading the UK financial services regulatory team at law firm Gowling WLG. Contact them on penny.sanders@gowlingwlg.com and ian.mason@gowlingwlg.com.

Fintech, of course, is not a new sector but developments are increasingly taking place more rapidly and the approach adopted by most regulators globally (including the UK) has been to wait and see, watch innovations as they develop and identify risks as they arise.