UNDER EMBARGO UNTIL 03 July 2017 08:00
For immediate release
Emerging Payments Association
Press contact: Sophie Temple, +44 20 7378 9890
Emerging Payments Association gathers six national regulators for Brexit passporting event
UK’s leading PayTech community brings together six regulators from across the EU, to discuss which Home State is right for businesses post-Brexit, should passporting no longer be possible.
London, UK. 3rd July 2017. The UK’s leading payments influencer community, the Emerging Payments Association (EPA), has today announced an event to be held on 3rd October at K&L Gates, St. Pauls, London, entitled Passport to the Regulators. The event will bring together for the first time six regulators from across the EU to present to the UK Fintech industry options on where they could be regulated should regulatory passporting not be possible post a UK Brexit.
This one day event will consist of keynote presentations and Q&As from the following six EU regulators and one Development Agency:
7. Ireland (The Irish Development Agency will be representing the Irish regulator)
This FinTech event follows the EPA's widely-lauded ‘Passport to the Future’ report (launched in January 2017), which reviewed 15 countries and analysed the six most viable options for companies seeking to become authorised in the EEA post-Brexit. Regulators will present their alternative Home States for regulated entities, should full passporting from the UK no longer be possible.
Tony Craddock, Director General of the EPA, commented, “Whilst the EPA fully supports and hopes the UK government addresses successfully the issue of passporting, our members and the wider FinTech community need to start exploring options. This event provides the unique opportunity to tap into the insight of some of Europe’s most innovative regulators, who will present the process, options, costs and timelines for obtaining licences within their jurisdiction. Attendees will have a unique opportunity to ask regulators burning questions about their specific situation, compare ‘Home State’ options and take the first steps in identifying the right future home market regulator.”
David Parker, EPA Ambassador and co-author of the Passport to the Future report, added: “Uncertainty abounds whenever Brexit is mentioned in relation to business. Although negotiations between the UK and the EU have begun, we are still some way off clarification on how passporting rights will be affected. For FinTech companies that need to be regulated across Europe they need to start considering options now. The process to become regulated in some markets can take up to a year. We want to help them identify and plan alternative Home State licences that will enable them to proceed with greater confidence in the years ahead.”
Passport to the Regulator will be particularly valuable for those involved in legal, regulatory, policy, economics, business development, strategy and compliance roles. Delegates will be able to identify the best home market regulator for their organisation. To attend or enquire about sponsoring the event, visit emergingpayments.org/events/passport-to-the-regulators/.
Notes to the editor:
Access to the Passport to the Future report and other White Papers
About the Emerging Payments Association (EPA)
The EPA is a community comprising the UK’s most progressive and collaborative payments companies. The EPA helps them influence the payments landscape and collaborate with those operating in it, whether they are buyers, sellers or partners. The association has the support of UK government agencies, and regularly communicates with regulatory bodies to help advance payments innovation. The EPA is led by an independent Advisory Board and has the support of Benefactors such as MasterCard and Kompli Global.
For more information about the EPA please go to www.emergingpayments.org
About Emerging Payments Association
The Emerging Payments Association (EPA) is a commercial membership association of payments industry influencers.
It runs more than 30 events each year, delivers eight projects to drive change, helps to connect the ecosystem, encourages innovation and profitable business growth.
The EPA’s vision is for the UK to be the global hotspot for payments innovation. As it sets out to be the most influential trade body in emerging payments, the EPA’s mission, to collaborate to innovate, has the potential to improve lives everywhere.
Its community is over 115 members strong and growing. Our members come from across the payments value chain; including payments schemes, banks and issuers, merchant acquirers, PSPs, retailers, and more. These companies have come together, from across the UK and internationally, to join our association, collaborate, and speak with a unified voice.
Together, transacting more than £6 trillion annually and employing more than 300,000 staff, we now have a significant influence over the industry’s future.
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