FCA Says It Must 'Keep Pace' With Technology Changes

Law360, London (November 7, 2019, 5:09 PM GMT) -- The Financial Conduct Authority has acknowledged it must adapt to keep pace with a wave of technology-led changes in the markets it regulates or risk being left behind.

Nick Cook, head of the regulator’s technology unit, said on Wednesday that the way consumers get access to financial services is almost unrecognizable from a decade ago.

“This changing landscape reminds financial regulators that we have to continually focus on outcomes and adapt to remain fit for purpose,” Cook said in a speech in London. “It reminds us that we have to anticipate what might next be coming down the road and to...

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