Financial Services: Digital Technology
The question
To ask the Chancellor of the Exchequer, with reference to the UK’s Modern Industrial Strategy, CP 1337, published on 23 June 2025, what progress she has made on reducing regulation for FinTech firms.
Answered by Lucy Rigby
The Financial Services Growth and Competitiveness Strategy, part of the UK’s Modern Industrial Strategy, delivers on the Government’s mission to shape a regulatory environment for financial services that is proportionate, predictable and internationally competitive, embracing innovation and leveraging the UK’s Fintech leadership.
For example, the Strategy committed to make it quicker and easier for new firms to achieve regulatory authorisation, allowing them to conduct limited regulated activities with streamlined conditions, as well as the launch of the FCA and PRA’s Scale-Up Unit to enhance engagement with fast-growing, innovative regulated firms.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →