With a cross-party membership of MPs and Peers, the APPG on Digital Finance aims to function as the permanent authoritative voice within the Parliament on all matters related to the transition to digital finance in this new era.
Key activities undertaken by the Digital Finance APPG will include regular cross-party meetings in parliament on Digital Finance issues and the opportunities for the UK in:
- Competition – how the U.K. will better compete with traditional and new and emerging digital financial hubs to positively exploit its premier position as a global financial services and fintech hub
- Productivity – how the U.K. will leverage the implementation of this new era of digitisation to boost productivity, growth and new jobs in digital financial innovation across all regions of the U.K.
- New products – how the U.K. will nurture innovation to create access to new and innovative products and services to better meet the needs of our citizens and businesses.
The APPG is chaired by Sir Stephen Timms, MP, Former Chief Secretary to the Treasury (Labour):
“Digital finance is borderless. The speed of technological innovation presents tough challenges for regulators and businesses, but the fintech revolution and decentralised financial market infrastructure open up new opportunities for inclusion and opportunity. The APPG Digital Finance can play a beneficial role by monitoring progress, assessing the challenges and promoting the opportunities.”
Digital Finance APPG Officer Lord Philip Hammond, Former Chancellor of the Exchequer (Conservative):
“The APPG Digital Finance will be an authoritative voice within the UK Parliament on the futureproof digital financial market infrastructure that will underpin the digital transformation of the UK’s world-class financial sector, delivering new and greater productivity, growth,
and prosperity. That will allow us to secure the UK’s role as a global financial hub in the post-Brexit era.”
The appointed secretariat of the Digital Finance APPG on FinTech is DLA Piper, a global law firm with lawyers in 40+ countries, providing legal solutions to businesses worldwide. Global Digital Finance (GDF), the sponsoring partner of the APPG is an an independent membership-based open innovation community that advocates for accelerating the adoption of best practices for digital assets.
Members
Chair Sir Stephen Timms MP
Labour - East Ham
Officer – Lord Holmes of Richmond MBE
Officer – Lord Philip Hammond
