Financial Services: Regulation

HM Treasury written question – answered on 7th March 2018.

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Photo of Adam Afriyie Adam Afriyie Conservative, Windsor

To ask Mr Chancellor of the Exchequer, what assessment his Department has made of RegTech's potential effect on reducing the administrative burden of regulation.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

RegTech has significant potential to reduce the administrative burden of regulation. The Financial Conduct Authority is already aware of the opportunities associated with RegTech, and have run a series of ‘tech sprints’ intended to address specific industry challenges.

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