The UK’s Financial Conduct Authority has hired more than 150 people into its Data, Technology and Innovation division in the past year as the regulator looks to ramp up its tech capabilities.
(Bloomberg) — The UK’s Financial Conduct Authority has hired more than 150 people into its Data, Technology and Innovation division in the past year as the regulator looks to ramp up its tech capabilities.
The hires are part of FCA’s attempts to use new analytical techniques to act more quickly and prevent investment fraud, according to a statement by the regulator.
The watchdog is “putting in place a variety of new tools, teams and standards so we can be more assertive and find and stop harm faster,” Jessica Rusu, the FCA’s chief data, information and intelligence officer, said.
The FCA said in 2021 that it would invest £120 million ($150 million) over three years to improve its data collection and analysis. The regulator is expected to set out its business plan for 2023 on Wednesday morning.
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