Banking News

‘Fintech Action Plan’ put in place by the European Commission

‘Fintech Action Plan’ put in place by the European Commission

(9 March 2018 – Europe) A 23-step ‘Fintech Action Plan’ has been announced by the European Commission in an effort to promote the digital transformation of the financial services sector.

Steps include the establishment of an EU Fintech Laboratory, the creation of a best-practices guideline for regulatory sandboxes and significant crowdfunding reforms.

Taking advantage of the Single Market the Fintech Action Plan sets out bloc-wide reforms, including legislation that will enable crowdfunding platforms to apply for an EU label based on a single set of rules.

Other highlights from the guide include: the formation of workshops to improve information-sharing in regards to cybersecurity and a consultation on how to best promote the digitisation of information published by listed companies in Europe.

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