Christopher Woolard has spoken on “Innovation in financial services”. He said that regulators must take care to avoid the dangers of being too keen to deregulate in times of stability, being so risk averse as not to appreciate the benefits of innovation and not being conscious that increasingly detailed regulation can itself disrupt markets. Mr Woolard highlighted the ability of both innovation and established players from other sectors to challenge existing business models, shared some of the lessons learned from Project Innovate one year since its inception, and introduced the regulatory sandbox designed to help further the project. (Source: FCA Woolard – Innovation in Financial Services)