Sarah Kenshall, Partner and head of fintech at BPE Solicitors, has written the UK chapter for the Financial Technology Law Review 2021. The FTLR provides an in-depth global overview of this fast evolving sector, covering the most salient points of law and practice in each jurisdiction including key regulatory requirements, new business models and digital markets, intellectual property, data protection, AI and much more.
UK Fintech continues to broaden and diversify into new markets at home and abroad. Fintech firms are selling not just into financial services sectors, but beyond, for example, into energy, transport and telecoms. The government-endorsed Kalifa Review of UK Fintech noted: ‘We see fintech as a core asset for Global Britain’, and a key recommendation of the Kalifa Review is for fintech to be an integral part of the UK’s international trade policy.
Sarah Kenshall said: “The UK is one of the world’s leading centres for ‘technology applied to financial services’ (the Department for International Trade’s definition of fintech), and the market has continued to grow year on year. It benefits from the UK’s financial services regulatory regime, which is well established, and the supervision of that regime by the Financial Conduct Authority, which maintains a reputation as one of the gold-standard regulatory bodies worldwide.”
However, she added, the trend in the UK over the past decade has been towards ever increasing regulation, and the current climate is no exception.
“There are no dedicated fintech tax incentives in the UK, but there are various features of the UK tax regime that make it attractive for fintech businesses.
Cheltenham based BPE Solicitors supports and advises clients in this space on the protection and commercialisation of their products and services in an everchanging world of data and technology. It’s lawyers have specialist sector knowledge built up over years of acting for fintech clients, both public bodies and private equity backed companies.
To read the chapter in full, click here