Regulators in France and New York have signed an agreement to support FinTech Growth.
The New York State Department of Financial Services (DFS) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) are taking part.
They aim to make it easier for FinTech firms to enter each others’ markets
FinTech innovators will be referred to each other for support.
What does this mean?
The two regulators will not only try to ‘strengthen’ the locations’ position as FinTech hubs by facilitating FinTech access, but will also exchange information about regulatory and policy issues to ensure forms can get support and share best practice.