European Commission unveils consultation on Digital Finance
On April 3rd, the European Commission unveils a new public consultation on a Digital Finance, which will feed input into the EU new Digital Finance Strategy planned for Q3 2020. It is crucial that Europe grasps all the potential of digital age across the economy, including in the financial sector.
As set out in the Commission work programme, given the broad and fundamental nature of the challenges ahead for the financial sector, the Commission will propose in Q3 2020 a new digital finance strategy / FinTech action plan that sets out a number of areas that public policy should focus on in the coming five years.
This new strategy will build on the work carried out during the previous mandate, in particular in the context of the FinTech action plan. It will take into consideration all the recent market and technological developments that are likely to impact the financial sector in the near future.
Responses to this consultation will inform forthcoming work on a digital finance strategy / FinTech action plan.
FEBIS Regulatory Committee will work on a submission on this item. The Consultation runs until 26 June 2020 and is available here.