The Regulatory Framework and Initiatives

Alessandra Tanda and Cristiana-Maria Schena ()
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Cristiana-Maria Schena: University of Insubria

Chapter Chapter 5 in FinTech, BigTech and Banks, 2019, pp 83-100 from Palgrave Macmillan

Abstract: Abstract FinTechFinTech activities often take place within an unregulated space or are subject to non-homogeneous regulatory frameworks. After a prevalent approach of “wait-and-see” by regulators, followed by an intense (still ongoing) debate on the opportunity to regulate, national authorities and international regulatory bodies have started to design regulatory provisions. The main aims are to eliminate the space for regulatory arbitrageregulatory arbitrage and ensure the financial markets greater stability and resilience, as well as to provide customers and investors with a higher degree of protection. Co-operation between authorities in this area of regulationregulation is key to the success of the new provisions, given the pervasiveness and innovative features of FinTech. This chapter reviews the regulatory approaches adopted so far and describes the main regulatory actions taken at the European level.

Keywords: Level playing field; Regulatory arbitrageregulatory arbitrage; Banking licencebanking license; Innovationinnovation hubinnovation hub; Regulatory sandboxsandbox (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-030-22426-4_5

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DOI: 10.1007/978-3-030-22426-4_5

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