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ARTICLE · 27 FEBRUARY 2017

European Parliament To Vote On Call For EU Fintech Framework Supervisory Experiments

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

De Brauw Blackstone Westbroek

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On 27 January 2017, the European Parliament Fintech rapporteur presented a motion for a resolution calling on the European Commission to define an EU framework for Fintech.

European UnionTechnology
Willem Röell
Willem Röell
Björn Schep
Björn Schep
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On 27 January 2017, the European Parliament Fintech rapporteur presented a motion for a resolution calling on the European Commission to define an EU framework for Fintech. This framework would include a Fintech Action Plan. The proposed resolution points out certain topics that require special Commission attention, such as consistent and technology-neutral data legislation, education on cybersecurity and operational standards on financial institutions' ICT risks.

According to the motion, boosting innovation and competitiveness while ensuring consumer protection and financial system stability requires a structured European approach to Fintech, including a different supervisory methodology. This new approach to the supervision of Fintech may enable our clients to accelerate their development processes in collaboration with supervisory authorities.

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