The FCA has established a presence in Singapore through the appointment of an FCA Financial Services Attaché based at the British High Commission as part of a wider plan to move into other priority markets next year.
The UK regulator said boosting its international footprint and strengthening ties will help build global regulatory relationships and attract inward investment to the UK.
Jessica Rusu, chief data, information and intelligence officer at the FCA, said: “Our appointment to Singapore helps us expand our network of financial services attachés around the world, strengthen our regulatory relationship with MAS and promote the UK as a global hub for financial services.”
The FCA has also teamed up with the Monetary Authority of Singapore (MAS) to support safe and responsible AI innovation.
The strategic partnership, which was announced at the Singapore Fintech Festival, will enable innovative firms in the UK and Singapore to scale and operate across markets more effectively.
A key element of the partnership will be the joint testing of AI solutions, exchange of regulatory insights, and collaborative events to spotlight best-in-class approaches.
Rusu added: “Through our partnership with the Monetary Authority of Singapore, we'll be championing safe and responsible AI innovation across UK and Singapore markets.
“I’m looking forward to seeing how it enables firms in both countries to grow through collaboration, gauge new cross-border opportunities, and shape the future of responsible AI innovation in finance.”
