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UK's FCA Must Defend Role As Lead Regulatory Innovator

Law360, London (November 8, 2016, 1:30 AM GMT) -- Britain's Financial Conduct Authority has attracted plaudits for its groundbreaking approach to supporting financial technology, but lawyers say it cannot afford to rest on its laurels as other countries maneuver to nurture the fast-growing sector.

Singapore regulators are pumping hundreds of millions of dollars into fintech development, encouraging new entrants eyeing the Asian market, as the U.S. and Australia lobby their governments to encourage similar innovation.

“There is a growing level of interest from other countries who see fintech as a huge market and are trying to capture it,” said John Salmon, financial technology partner at Hogan Lovells. “But when I...

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