Innovate Finance has responded to HM Treasury’s request for proposals on how to assess the accomplishment of the new secondary goals set by the financial regulators, highlighting the importance of fostering innovation in FinTechs to maintain competitiveness.
The Financial Services and Markets Act (FSMA)’s secondary goals include important criteria for judging how well the FCA and PRA are doing in pursuing their goals related to UK fintech competitiveness. The Treasury is empowered by FSMA to establish performance metrics to gauge this performance.
Innovate Finance proposed a set of metrics and actions in its submission to make sure that they were in line with these objectives.
Read More: Innovate Finance calls for innovation in response to HM Treasury
