Law firm launches online tool for fintech start-ups
Hogan Lovells has launched an online tool to help fintech start-ups gain a better understanding of Financial Conduct Authority (FCA) regulations.
The law firm will be providing the tool for free to businesses that take part in regulated activities in the UK.
The company has launched its Regulatory Accelerator to help fintech companies understand FCA regulations when starting up and to address the challenges of scaling their business.
The accelerator will consist of tools and resources to help businesses understand the FCA application process, whether or not they need to be an authorised company, and whether they are conducting regulated activities or are making financial promotions.
The company stated that the tool will help to make it easier, quicker, and less expensive for fintech companies to get to market.
Hogan Lovells Financial Institutions Sector Global Head Rachel Kent said that “cost and management time devoted to becoming and being authorised are a major investment for any business”. She added that the company knows that the FCA has “gone a long way” to help with its Regulatory Accelerator Programme but that it is not available for everyone.
Kent also explained that Hogan Lovells is “committed to innovation and to supporting and developing the fintech community in the UK and globally.”