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ARTICLE · 06 APRIL 2018

European Commission Releases Fintech Action Plan

McCarthy Tétrault
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In March 8, 2018, the European Commission ("Commission") released a Fintech Action Plan ("Action Plan") and a new proposal to regulate crowdfunding service providers.

European UnionTechnology
SnIP/ITs Blog
SnIP/ITs Blog
Shauvik Shah
Shauvik Shah
Adrienne Ho
Adrienne Ho
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On March 8, 2018, the European Commission ("Commission") released a Fintech Action Plan ("Action Plan") and a new proposal to regulate crowdfunding service providers.

The Action Plan, which follows a 2017 public consultation on technological innovation in the financial services industry, comprises of specific steps for the "EU to embrace digitalisation of the financial sector". The Action Plan is part of the Commission's broader initiatives to establish a capital markets union as well a single market for consumer financial and digital services. It also comes in the wake of the General Data Protection Regulation ("GDPR") coming into effect later this year and a proposal for a regulatory framework providing for the free flow of non-personal data in the EU.

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