Global: FCA sets up Innovation Advisory Group

The watchdog says the IAG will help to keep it up sto speed with new innovations in fintech and RegTech.

The group’s experience spans artificial intelligence and other emerging technologies, competition, digital markets, financial inclusion, and sustainability. It will help to support the FCA’s current plans and initiatives for 2023 and shape its innovation pathway to better serve businesses and consumers.

The advisory group will consist of the following rotating members for a minimum one-year term:

• Pinar Akman, Professor of Law & Director at Jean Monnet Centre of Excellence on Digital Governance – University of Leeds
• Esra Kasapoglu, Director of AI and Data Economy – Innovate UK
• Etay Katz, Senior Partner, Financial Regulation – Ashurst LLP
• Massimo Preziuso, Lecturer in Sustainable Financial Technology – University of Salford
• Ghela Boskovich, Founder of FemTechGlobal & Head of Europe – Financial Data and Technology Association (FDATA)
• Alastair Reed, Principal Policy Adviser, Money – Which?
• Tom Bull, Partner & Head of FinTech Growth – Ernst & Young LLP

They will be joined by the representative members from trade associations UK Finance, Innovate Finance, RegTech Associates, Association for Financial Markets in Europe (AFME) and The Investment Association

Howard Wimpory, KYC transformation director for Encompass Corporation, commented: “It is encouraging to see the FCA continuing to push innovation in the financial services sector, bringing new initiatives to the fore to support the UK’s ambitious growth plans. With Tech Nation shutting down, now is the time for leaders to step up and steer the country, sector and businesses forward when it comes to promoting the development and adoption of new technology.”