Status: Draft -- Not PublishedWill be live at 10/08/2018 00:00
Global Financial Innovation Network (GFIN)
The IIF welcomes of the initiative of the FCA, MAS, HKMA & 9 other agencies in proposing a Global Financial Innovation Network (GFIN). We believe this network can play a significant role in promoting innovation that benefits consumers and the wider economy, in a safe environment, reflecting the shared journey for industry and regulators that has been a common theme through each of the IIF's recent publications on machine learning, cloud and data sharing.
The IIF hopes that the scope of the GFIN can be both expanded, in particular to welcome the participation of more jurisdictions and more prudential regulatory agencies in particular, and we also see some areas where the proposal can be fine-tuned. We believe that industry has an important role to play in supporting both that expansion and the necessary refinements, and we are anxious to contribute and play that role.