Hailed as a brilliant opportunity to keep modernising the regulatory environment upon its release, the first 12 months following the Kalifa Review’s publication has seen mixed progress.
The Review outlined five core recommendations around which a roadmap would be built, these included policy and regulation; skills and talent; investment; international attractiveness and competitiveness; and national connectivity.
In anticipation of the Review’s first birthday, almost 70 Innovate Finance members including fintech founders and CEOs recently penned an
open letter to the UK Government, calling for further progress in implementing the reforms advocated by the Kalifa Review.
Noting the positive momentum seen since the Review’s publication, the letter mentioned successes including the new industry-led Centre for Finance, Innovation and Technology (CFIT), regulatory initiatives such as the FCA’s sandbox and the Bank of England’s
extensive work on digital currencies, the overhaul of the UK listings regime and the impending introduction of scale-up visas.