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A&O Shearman

European Commission Consults on Artificial Intelligence in the Financial Sector

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The European Commission has published a consultation on the use of artificial intelligence in the financial sector. The consultation aims to aid the Commission in developing guidance for the financial sector across all market...more

A&O Shearman

Key Regulatory Topics Weekly Update 16 February to 22 February 2024

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Of particular note this week in the EU, the Council adopted the legislative package to strengthen market data transparency which includes changes to the EU’s trading rules on market data, payment for order flow and commodity...more

Walkers

Global Legal Insights Fintech 2023: Ireland

Walkers on

Partners Niall Esler and Shane Martin, along with senior associate Conor Daly and trainee solicitor Coleen Wegmann, have authored the Ireland chapter for Global Legal Insights Fintech 2023. They provide an up-to-date summary...more

Wilson Sonsini Goodrich & Rosati

European Commission Proposes New Rules on Financial Data Access and Use

On June 28, 2023, the European Commission (EC) published a Proposal for a Regulation on Financial Data Access (FIDA). FIDA aims to create a framework through which data holders (e.g., banks, credit institutions) share the...more

K&L Gates LLP

Brussels Regulatory Brief: April 2023

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ANTITRUST AND COMPETITION - The European Commission Releases the Article 102 TFEU Package to Ensure Greater Legal Certainty on Exclusionary Abuses of Dominance - Article 102 of the Treaty on the Functioning of the European...more

Hogan Lovells

Global Payments Newsletter, May 2022

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Key developments of interest over the last month include: Queen's Speech 2022 announces forthcoming Financial Services and Markets Bill; European Commission consultations and calls for evidence on PSD2 review and open...more

A&O Shearman

Key Regulatory Topics: weekly Update 15 October to 21 October 2021

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Of particular note this week, HM Treasury published a policy paper on ‘Greening Finance: A Roadmap to Sustainable Investing’ which sets out the UK government’s ambition to support the financial services sector to align with...more

Hogan Lovells

Global Payments Newsletter, September 2021

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Key developments of interest over the last month include: El Salvador: Bitcoin becomes legal tender European Union: European Commission proposes Path to the Digital Decade to deliver EU's digital transformation by 2030...more

Morgan Lewis - Tech & Sourcing

Coalition of European Banks Calls for Model Cloud Services Terms

The European Cloud User Coalition (ECUC) published a paper (the Position Paper) on May 17 recommending, among other matters, the adoption of “model clauses” for the long-term compliant use of cloud technologies....more

Skadden, Arps, Slate, Meagher & Flom LLP

Impact on the Fintech Sector

The Trade and Cooperation Agreement (TCA) provides for preferential arrangements in certain areas of trade between the EU and the UK, mainly in goods and continued access to related services such as transport and logistics....more

White & Case LLP

A Few Words on DORA – Proposal for Regulation on Digital Operational Resilience in Financial Sector

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The financial sector is greatly dependent on information and communication technologies (ICT). The importance of ensuring remote access to financial services increased to an even greater extent during the COVID-19 pandemic,...more

A&O Shearman

European Commission Sets Out EU Digital Finance Strategy

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The European Commission has published a Communication on its EU digital finance strategy for the coming years. The global economy has been transformed by digital innovation, and this includes financial services. The...more

A&O Shearman

European Commission Sets out EU Retail Payments Strategy

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The European Commission has published a Communication on its EU retail payments strategy for the coming years. The payments sector has experienced significant change in recent years. Retail payments are increasingly...more

K&L Gates LLP

European Commission's Legislative Proposals on Crypto-Assets and DLT

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On 24 September 2020, the European Commission (Commission) launched its Digital Finance Strategy (Strategy). The Strategy includes, among other elements: (i) a proposal for a Regulation on Markets in Crypto-Assets with its...more

Latham & Watkins LLP

MiCA: EU Commission Publishes Comprehensive Cryptoasset Market Regulation Proposal

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The proposed regulation will provide greater consumer and investor protection and lessen the risks of participating in digital finance. The EU Commission has published a proposal for a wide-ranging EU regulation covering...more

Latham & Watkins LLP

MiFID Refit - Commission Consults on Review of MiFID II Framework

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The consultation provides a key opportunity for market participants to provide feedback on the regime. Key Points: ..The consultation covers a broad range of MiFID topics and, while framed as a questionnaire, contains...more

White & Case LLP

Financial Regulatory Observer - December 2019: The uneasy road toward a single EU market for fintech

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Current rules fall short of providing a clear framework for a single European market for fintech companies. The development of a single market for fintech has recently been placed at the center of the EU financial...more

A&O Shearman

EU Expert Group on Regulatory Obstacles to Financial Innovation Publishes Recommendations on Regulatory Framework for FinTech

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The EU Expert Group on Regulatory Obstacles to Financial Innovation (or ROFIEG) has published a set of Recommendations and a Q&A on the establishment of an accommodative framework for FinTech in the EU. The ROFIEG was...more

White & Case LLP

Financial Regulatory Observer - December 2019: Eight priorities for the new EU financial services chief

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Valdis Dombrovskis has a full in-tray that includes securing the EU banking and capital markets union as he begins his term at the European Commission. The new President of the European Commission, Ursula von der Leyen,...more

A&O Shearman

EU Statement on Stablecoins

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The Council of the European Union and the European Commission have published a joint statement on stablecoins. The statement reiterates many of the messages of the G7 working group paper on the impact of stablecoins...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23 August 2019 - 29 August 2019

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BREXIT - ECB on no-deal Brexit - On 28 August, the ECB published the transcript of an interview (dated 15 August) with by Andrea Enria, Supervisory Board Chair of the ECB. In the interview, among other things, Mr Enria...more

A&O Shearman

European Banking Authority Reports on Regulatory Perimeter, Regulatory Status and Authorization of Fintech Activities

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Fulfilling its mandate under the European Commission's FinTech Action Plan to map the current authorization and licensing approaches for innovative FinTech business models in Europe, the European Banking Authority has...more

White & Case LLP

EU Banking Authority reports on FinTech banking and payments licensing regimes across Europe

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On 18 July 2019 the European Banking Authority (EBA) published a report on the EU regulatory perimeter, national regulatory status and EU national regulators' (NCAs') authorisation approaches for FinTech firms conducting...more

A&O Shearman

European Securities and Markets Authority Publishes Report on the Licensing of FinTech Business Models

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Fulfilling its mandate under the European Commission's FinTech Action Plan to map the current authorization and licensing approaches for innovative FinTech business models in Europe, the European Securities and Markets...more

White & Case LLP

ESMA reports on FinTech firm licensing regimes across Europe

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On 12 July 2019 the European Securities and Markets Authority (ESMA) reported on the status of FinTech firm licensing regimes across the EU, based on two ESMA surveys of EU national competent authorities (NCAs). ESMA's report...more

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