ESMA’s Maijoor keynote speech at Conference on FinTech & Regulation.
08:59 09 February
in Uncategorized
ESMA Chair, Steven Maijoor, addressed senior policymakers and industry at the 5th Annual Conference on ‘FinTech and Regulation: New Challenges and New Solutions’.
- Digitalisation: risks and opportunities:
- DLT Technology
- Digital platforms for clients
- Accelerating trends:
- Cloud platforms increase
- BighTechs and Big Data
- Competition risks
- And safe navigation:
- Regulatory framework needs fast adaptations, and strong support was expressed for the following:
- EC proposal on DORA: Digital Operational Resilience Act, with oversight of critical third-party providers
- EC proposal on DLT Pilot Regime for Market Infrastructures to boost experimentation and increase expertise in the technology
- EC proposal on MiCA (Markets in Crypto Assets): mainly for the categories of unregulated crypto-assets
- Regulatory framework needs fast adaptations, and strong support was expressed for the following:
The Covid-19 pandemic and ensuing of public health measures have accelerated the trend towards digital finance. Now more than ever, consumers are managing their finances and investments online. Businesses must continue to reinvent themselves and authorities will need to coordinate their policy response.