• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Mortgages
    • Taxation
  • Fintech
  • Regulation
  • In Depth
  • Special Reports
  • Video
  • Directory
  • Advertise with us
  • Events
  • Middle East Hub
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Events
    • Upcoming events
      View all events
  • Middle East Hub
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • In Depth
  • Special Reports
  • Video
  • Directory
  • Regulation

Japanese and UK financial regulators join forces

Japanese and UK financial regulators join forces
  • Gary Robinson
  • 09 March 2017
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

The financial regulators of Japan and UK have agreed an exchange letters of co-operation framework to support fintech companies in both countries.

The Financial Services Agency of Japan (JFSA) and the UK’s Financial Conduct Authority (FCA) said in a joint statement, that the exchange of letters will provide a regulatory referral system for ‘Innovator Businesses’ from Japan and the UK seeking to enter the other’s market.

Related articles

  • Fintech at heart of new Hong Kong, UK regulatory agreement
  • Canadian and UK regulators agree co-op deal
  • UK’s FCA signs landmark fintech agreement with US regulator
  • UK, Australia join to monitor fintech rise

The agreement is one of a growing number of agreements that the FCA has signed with other countries, but marks the first time that Japan has allowed another country such access to its financial services framework.

Under the agreement, the authority that receives a referral will provide support to the businesses smoothing the regulatory requirements and time that it takes the business to get to market. In addition, the regulators said that they will also share information about financial services innovation in their respective markets, reduce barriers to entry in a new jurisdiction and “further encourage innovation” in both countries.

‘Break down barriers’

Christopher Woolard, executive director of strategy and competition at the FCA, said that the deal with the JFSA will help “break down barriers” to entry both in Japan and in the UK for firms with interesting new business services and products.

Shunsuke Shirakawa, the vice commissioner for international affairs at the JFSA, said: “This is our first case in creating a pro-fintech co-operation framework with any other countries. UK is one of the world-leading fintech countries, generating £6.6bn in revenue. We believe that this exchange of letters strengthens the relationship between the JFSA and the FCA and promotes innovation in our respective markets.”

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Regulation
  • Asia
  • UK
  • Japan

More on Regulation

UK watchdog warns advisers about charging models

  • Regulation
  • 29 November 2019
FCA claws back £291,000 from investment scheme fraudster

  • Regulation
  • 27 November 2019
Hong Kong rules that trustees are protected under anti-Bartlett clauses

  • Trusts
  • 27 November 2019
Citigroup slammed with record £44m fine for reporting failures

  • Banking
  • 27 November 2019
Australian watchdog slaps 5-year ban on former Linchpin director

  • Regulation
  • 27 November 2019
Back to Top

Most read

EXCLUSIVE: deVere agrees sale of South Africa business
EXCLUSIVE: deVere agrees sale of South Africa business
US FATCA crackdown pushing demand for tax advice
US FATCA crackdown pushing demand for tax advice
Kuwait to ban diabetic expats
Kuwait to ban diabetic expats
DeVere to close Barcelona office
DeVere to close Barcelona office
Cayman National Bank IOM confirms customer account details stolen in hack
Cayman National Bank IOM confirms customer account details stolen in hack
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017