The Finance Innovation Lab launched its landmark publication The Regulatory Compass: Towards a purpose-driven approach to financial regulation.
We are living through a period of major political and economic uncertainty. While Brexit and new global forces reshape our economy, the rise of new technologies could set our financial system on the path to greater fairness, responsibility and democracy – or the reverse.
Do we cling on to the status quo, with all its shortcomings? Or do we seize the opportunity to step back and ask ourselves what kind of financial system we want – and how we can regulate for that?
The Regulatory Compass draws on the experiences of the Lab’s community of purpose-led innovators to argue that in a post-Brexit, rapidly digitising economy, we need to reorient regulation around the ultimate social purpose of finance. It offers a new approach to regulatory mandates, metrics and mindsets that will ensure our financial system supports the productive economy, serves all citizens, and helps us to address the major social and environmental challenges we face.
Read the full report The Regulatory Compass: Towards a purpose-driven approach to financial regulation.
Courtesy of The Finance Innovation Lab.