Hogan Lovells has launched its new tool to help fintech firms understand and navigate their way through the Financial Conduct Authority’s (FCA) regulatory regime. 

The Regulatory Accelerator will include resources and tools to help fintech firms determine whether they are conducting regulated activities and whether they therefore need to be an authorised firm or an appointed representative.

The tool will also provide information on the FCA application process and what fintech firms need to show the regulator in order to become authorised, as well as providing key rules that will apply to the business once authorised.

Regulatory Accelerator will be free to fintech firms who are members of Innovate Finance as Rachel Kent, global head of Hogan Lovells Financial Institutions Sector, felt the cost and management time devoted to becoming authorised was a major investment.

“We know that the FCA has gone a long way to help with their Regulatory Accelerator programme, but we also know that this is not available for everyone, so we have created our own Regulatory Accelerator tool to address the challenges we see fintech clients facing on a daily basis. 

“Hogan Lovells is committed to innovation and to supporting and developing the fintech community in the UK and globally, and we are also assisting Innovate Finance and the FCA to formulate their proposals for the broader Industry Sandbox."

Lawrence Wintermeyer, CEO of Innovate Finance, added: “The Regulatory Accelerator is a platform which will enable Innovate Finance members to access the knowledge needed to navigate FCA regulations to better ensure they are fit for market purpose and FCA regulation, rapidly and cost effectively. 

“Hogan Lovells has created an intuitive and easy-to-use online solution that enables fintech start-ups to map out their regulatory requirements to determine if they need to be regulated, right through to requirements for full authorisation."