The Impact and Effectiveness of Innovate 2019 (FCA)

A research paper from the FCA

From:
Competition and Markets Authority
Published
25 March 2022
Category:
Ad hoc research
Original publisher:
Financial Conduct Authority
Research area:
Financial services, Technology
Research topic:
Digital currencies, Distributed ledger technology, Fintech, Regtech
Research publish date:
29 April 2019

Abstract

We need to understand the impact of Innovate on the firms we are supporting and how this promotes effective competition in the interests of consumers. We, therefore, have evaluated our effectiveness and the progress made. Early evidence suggests that our work:

  • gives firms the regulatory certainty they need to develop their innovations and deliver them at speed
  • improves outcomes for consumers
  • encourages positive innovation domestically and internationally

This report focuses primarily on our work to encourage and support firms to deliver positive innovation to market, and its impact on firm and consumer outcomes. We believe this represents the basis of an effective framework for evaluating the impact of regulatory interventions in areas that cannot be assessed in a purely quantitative nature. It is still early days and there are limitations to our evaluation analysis. We expect to be able to draw clearer conclusions on Innovate’s impact as firms spend more time in the market and the evidence base grows.

Citation

FCA, The Impact and Effectiveness of Innovate (2019) [online] Available at: The Impact and Effectiveness of Innovate [Accessed 10 February 2022]

https://www.fca.org.uk/publications/research/impact-and-effectiveness-innovate

Updates to this page

Published 25 March 2022
Contents