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Abu Dhabi / Emirates Business
Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, is inviting the FinTech and RegTech companies and community in Abu Dhabi and the Mena region to participate and comment on a joint consultation proposing the role and details of a Global Financial Innovation Network (GFIN) initiated by the UK Financial Conduct Authority (FCA).
The GFIN is a newly-formed association comprising 11 financial regulators, including ADGM. This paper follows a proposition document published by the UK FCA in February 2018 on the concept of a “global sandbox†and provides an update on the next steps of the project.
The GFIN initiative will create a network of fintech-focussed regulators, and for those that offer RegLab-like regulatory sandboxes, cross-border trials for those FinTechs seeking to run tests in multiple jurisdictions simultaneously.