European Approaches to Fintech: The Role of Regulation and the Evolution of Supervision

Valerio Lemma
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Valerio Lemma: Marconi University

Chapter Chapter 4 in FinTech Regulation, 2020, pp 143-243 from Springer

Abstract: Abstract This chapter clarifies the European approach to financial innovation. In order to outline the common features of the regulatory approach across Europe, it highlights the interventions of EU institutions. Focus on the current rules outlines that, apart from the efforts in the European Commission’s Action Plan on FinTech, a uniform legal framework applicable to fintech has not yet been established in either the European Union or the G20’s countries. Indeed, EU regulator does not approach fintech as a new industry, so the role of the European Central Bank will ensure that fintechers are properly authorized and have in place ‘risk control frameworks’. In addition, this chapter considers evidence from Switzerland, showing that an advanced democracy should enact the principles of freedom, independence and self-determination.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-42347-6_4

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DOI: 10.1007/978-3-030-42347-6_4

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