UK government announces reforms to boost financial sector growth
The Chancellor has revealed plans for a Digital Gilt pilot and “decisive action to advance open banking”.
The Chancellor has revealed plans for a Digital Gilt pilot and “decisive action to advance open banking”.
The consultation proposes clearer information for BNPL consumers, as well as stronger dispute rights.
Commissioned by the UK chancellor and launched in July this year, the report has been authored by Joe Garner.
15 fintechs including Wise, Monzo, Revolut and Klarna have penned an open letter to UK chancellor Jeremy Hunt.
The MoU aims to establish an “ongoing forum” to discuss voluntary regulatory cooperation.
The UK government is looking to bring BNPL into the regulatory sphere “in a proportionate way”.
The government will strengthen rules for crypto trading platforms and crypto lending in line with traditional finance.
The letter has been co-signed by Codat, Atom Bank, Funding Circle, Iwoca, Allica Bank, SPRK Capital and others.