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Innovate Finance gives evidence to the House of Lords EU Financial Affairs Sub-Committee

Today Charlotte Crosswell, CEO Innovate Finance appeared at the House of Lords EU Financial Affairs Sub-Committee to provide evidence on FinTech, financial regulation and supervision following Brexit. The key messages included:

–        The need to focus on ensuring the UK remains an attractive location for talent. 30% of Innovate Finance founder are born overseas. Progressive immigration policy, and addressing continued skills shortages remain key.

–        Whilst FinTech is an amorphous sector, payments firms especially will be affected by continued access to the Single Market and Passporting regime. It is important they are able to continue providing services to their customer across the EEA.

–        The European Investment Fund (EIF) accounts for almost half of venture investment activity across Europe. It is important to secure replacement funding; bolstering the capital and resources of the BBB; and re-assessing qualifying activities for EIS/SEIS. Moreover, ensuring private sector funding / VC capital is better directed at an earlier stage of growth will be key to the UK FinTech sector.

 

To view the full session please click here and start from 11.23.