I'm so fed up with the hoops we have to jump through to launch a new product in the UK, it's like the government wants us to fail. Every time we try to innovate, there's some new regulation or license we need to get, and it's always a nightmare to deal with.
I'd change the whole system by introducing a simple, fast-track approval process for startups, similar to what they have in Singapore. This would let us launch and test new products quickly, without having to wait months for some faceless bureaucrat to sign off on it. We could also learn from the US and introduce some sort of sandbox environment where we can test new financial products without having to comply with every single regulation from day one.
This would make a huge difference to companies like mine, which are trying to disrupt the status quo and bring new ideas to the market.
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