FCA: Regtech still 'sleeping giant' of financial services

Still under-serviced area of sandbox

Sophie King
clock • 1 min read

Regtech is still the "sleeping giant" of the financial services world, according to FCA director of innovation Nick Cook.

Speaking at the CDO Exchange event on Wednesday (6 November), Cook said that while it is certainly growing, regtech is still a key "underserviced" area of the Financial Conduct Authority's (FCA) so-called 'regulatory sandbox.' The sandbox allows businesses to test propositions in the market and applications are currently open for cohort six until 31 December. In his talk, Cook said regtech - the use of new technology to facilitate regulatory requirements - is "another area where we have to think if the services we currently offer marry up to the needs of the firms".  One reason for...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Regulatory necessity: Why data is no longer a 'nice to have'

Regulatory necessity: Why data is no longer a 'nice to have'

Client-led, data-driven

Paul Bruns
clock 01 July 2025 • 5 min read
Targeted Support: One-off firm costs could approach £69m

Targeted Support: One-off firm costs could approach £69m

One firm estimated IT costs of £1m a year alone

Jen Frost
clock 01 July 2025 • 3 min read
Holly Mackay on targeted support: Do you want fries with that?

Holly Mackay on targeted support: Do you want fries with that?

'This does not compete with financial advice. It's an early stepping stone on the advice journey'

Holly Mackay
clock 30 June 2025 • 4 min read