The FCA has signed an agreement with the India regulator, IFSCA, to strengthen their links.
IFSCA has oversight of financial institutions operating in Gujarat International Finance Tec-City (GIFT City), India’s first international financial services centre.
The agreement affirms both authorities’ commitment to develop their relationship and share regulatory knowledge and best practice to support the development of financial services in both jurisdictions.
The information shared on developments may include sustainable finance – including transition finance – through the UK-India Sustainable Finance Forum, and FinTech, through the authorities’ respective memberships of the Global Financial Innovation Network and the UK-India FinTech Joint Working Group.
FCA CEO Nikhil Rathi said in a letter to chair of the IFSCA Kalyanaraman Rajaraman: “I believe that sharing knowledge and best practices in the ways envisaged in this letter will lead to a mutually beneficial relationship between the Authorities.”
