European Commission launches FinTech consultation on a more competitive and innovative European financial sector

The European Commission today launched a public consultation on FinTech for a more competitive and innovative European financial sector.
This consultation seeks input from stakeholders to further develop the Commission’s policy approach towards technological innovation in financial services. It seeks input in terms of stakeholders’ perspectives on new technologies’ impact on the European financial services sector, both from the perspective of providers of financial services and consumers, and whether the regulatory and supervisory framework fosters technological innovation in line with its three core principles of technological neutrality, proportionality and integrity. The feedback will help the Commission to gauge how FinTech can make the EU Single Market for financial services more competitive, inclusive and efficient.

The deadline for submission is 15 June 2017.

The Commission statement, the consultation paper and related information are available here.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

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