The regulator launched PASS to assist cryptoasset, payments, and wholesale firms entering the UK market.
Independent research shows firms in FCA sandboxes are more likely to secure funding and stay operational.
The Financial Conduct Authority (FCA) is introducing new
regulatory measures to support innovation in financial services. The changes
are part of an effort to attract international firms and maintain the country’s
global position in key financial markets.
Jessica Rusu, Chief Data, Information and Intelligence
Officer at the FCA, spoke about the new
initiatives at the Innovate Finance Global Summit 2025. She said the UK
continues to lead in areas such as commercial insurance, derivatives, debt
issuance, commodities, and foreign exchange.
FCA Announces PASS and AI Live Testing
Jessica Rusu, Chief Data, Information and Intelligence Officer, Source: FCA
Rusu outlined several reforms aimed at supporting this
leadership. These include changes to the wholesale market structure and the
creation of a new platform to increase access to private market investments.
To assist firms considering entry into the UK market, the
FCA has launched a pre-application support service. Known as PASS, it is
designed for cryptoasset, payments, and wholesale firms. It allows companies to
engage with the regulator before submitting formal applications.
In line with its support for responsible technology use, the
FCA has also announced a new program called AI Live Testing. The initiative
allows companies to test generative AI tools under the supervision of the
regulator. The aim is to explore how such tools can be used in consumer-facing
services without breaching regulatory standards.
The live testing service, part of the FCA’s AI Lab, aims to
accelerate AI adoption by helping firms ensure their tools are market-ready. It
will provide insights into AI’s impact on UK financial markets and run for 12
to 18 months, launching in September 2025.
The FCA is also expanding its Regulatory Sandbox and Digital
Sandbox programs. These offer firms support during the authorisation process
and access to financial and market data. According to independent research,
participants in these programs are more likely to receive investment and
continue operations over time.
Rusu said, “Through these market changes, we know consumers
and industry look to regulators as a guardian of stability. Having a clear plan
for what we prioritise in turbulent times will help financial services, and
particularly those who want to innovate and grow their business.”
The Financial Conduct Authority (FCA) is introducing new
regulatory measures to support innovation in financial services. The changes
are part of an effort to attract international firms and maintain the country’s
global position in key financial markets.
Jessica Rusu, Chief Data, Information and Intelligence
Officer at the FCA, spoke about the new
initiatives at the Innovate Finance Global Summit 2025. She said the UK
continues to lead in areas such as commercial insurance, derivatives, debt
issuance, commodities, and foreign exchange.
FCA Announces PASS and AI Live Testing
Jessica Rusu, Chief Data, Information and Intelligence Officer, Source: FCA
Rusu outlined several reforms aimed at supporting this
leadership. These include changes to the wholesale market structure and the
creation of a new platform to increase access to private market investments.
To assist firms considering entry into the UK market, the
FCA has launched a pre-application support service. Known as PASS, it is
designed for cryptoasset, payments, and wholesale firms. It allows companies to
engage with the regulator before submitting formal applications.
In line with its support for responsible technology use, the
FCA has also announced a new program called AI Live Testing. The initiative
allows companies to test generative AI tools under the supervision of the
regulator. The aim is to explore how such tools can be used in consumer-facing
services without breaching regulatory standards.
The live testing service, part of the FCA’s AI Lab, aims to
accelerate AI adoption by helping firms ensure their tools are market-ready. It
will provide insights into AI’s impact on UK financial markets and run for 12
to 18 months, launching in September 2025.
The FCA is also expanding its Regulatory Sandbox and Digital
Sandbox programs. These offer firms support during the authorisation process
and access to financial and market data. According to independent research,
participants in these programs are more likely to receive investment and
continue operations over time.
Rusu said, “Through these market changes, we know consumers
and industry look to regulators as a guardian of stability. Having a clear plan
for what we prioritise in turbulent times will help financial services, and
particularly those who want to innovate and grow their business.”
Prop Firms and Brokers Form a Perfect Synergy: One Offers Access, the Other Capital
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
