ADGM and FCA Consult on the Creation of Global Financial Innovation Network

On August 7, 2018, the Abu Dhabi Global Market (ADGM) and the UK Financial Conduct Authority (FCA) jointly published a consultation paper on the establishment of a global financial innovation network, which follows a document published by the FCA earlier this year proposing the idea for the creation of a global sandbox.

Building upon this idea, the present consultation paper revises the name of the group to be created to the Global Financial Innovation Network (GFIN), to reflect its broader nature and scope, as well as to allow other regulators lacking a sandbox environment to also participate in this initiative.

The newly-formed association of GFIN comprises 11 regulators, including the ADGM and the FCA. The others regulators participating in the GFIN are:

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