The U.K. Financial Conduct Authority signed an arrangement with the U.S. Commodity Futures Trading Commission to collaborate and support innovative firms through each other's financial technology initiatives — FCA Innovate and LabCFTC.

The arrangement focuses on sharing information regarding fintech market trends and developments, and facilitates referrals of fintech firms interested in entering the other's market, as well as sharing information and insight derived from each regulator's relevant sandbox, proof of concept or innovation competitions.

The arrangement supports both regulators' efforts to facilitate responsible fintech innovation and ensure international collaboration on emerging regulatory best practices, the FCA noted in its Feb. 19 statement.