HM Treasury has launched a consultation setting out proposals for introducing a new system of competition-focused regulation for payment systems. You can see the press release here and the key documents here
The consultation directly impacts FinTech Innovation, in particular where smaller players like start-ups are concerned and in all areas including mobile payments. This group has one of the highest concentrations of FinTech Entrepreneurial talent and expertise in the UK and we therefore propose to put together a group response.
Please be aware that the agenda is subject to change
1. Workshop Preparation for Delegates
It's essential that you read the Consultation Document and the Impact Assessment (key documents here) before you attend the Workshop. We'll have printed copies to work from on the day.
Optionally you may also wish to read the responses received to the Previous Payments consultation (key documents here)
2. Workshop Agenda
The format for this workshop is quite simple.
First session -We'll break into tables of six; each will appoint a Team Leader to take the table through the 9 key consultation questions and document the responses. It's also important to understand that we are responding as a Professional Group of Financial Technology Innovators and that this is the main perspective that we are putting forward i.e. what changes are needed to best support FinTech Innovation.
Short Tea/Coffee break
Second session - Each Team Leader will present their table's responses to the group for open discussion
We'll ask the Team Leaders to email a summary of their responses to the Organisers immediately after the Workshop
We'll put together a draft response for circulation to all Delegates for comments and then iterate once or twice until finalised.
We'll then submit the final document to the Treasury
It's great to see a new format emerging from the group, I'd like to see responding to Government consultation become a core part of what we do.
I'd also like to thank Wragge&Co for kindly hosting the Workshop, Sponsors make our events possible and accessible to all