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Today Australia’s Australian Securities and Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA) signed a world-first cooperation agreement under which innovative FinTech companies will have more support from financial regulators as they seek to expand their business on a global scale and require additional regulatory permissions.
This agreement follows the creation of Innovation Hubs at the FCA and ASIC in October 2014 and April 2015, respectively. The Innovation Hubs were created to help businesses with innovative ideas navigate financial regulation, support them through the authorisation process and engage with the regulator.
Since its creation the FCA has assisted over 200 businesses ... (read more)