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2019 | 110 | 115--130
Tytuł artykułu

FinTech Between Regulatory Uncertainty and Market Fragmentation: What Are the Prospects for the Technological Single Market of Financial Services?

Treść / Zawartość
Warianty tytułu
FinTech - między niepewnością regulacyjną i fragmentacją rynkową: Jakie są perspektywy na jednolity rynek usług finansowych?
Języki publikacji
EN
Abstrakty
EN
The sector of financial services is in the middle of a unique upheaval, known as FinTech, deriving from the application of emerging technologies to finance. FinTech is a large and heterogeneous ecosystem, variously articulated, that is boosting the digital transformation of the financial sector through a process of change and challenge for all stakeholders. Faced with benefits and risks, different regulatory approaches have been adopted by the Member States so much to affect negatively the main purpose that is the creation of a technological single market of financial services. Different obstacles hinder the achievement of this purpose, among which regulatory gap and legislative uncertainty that fragment the market and encourage regulatory arbitrage. The scheme of the regulatory sandbox could bring down barriers, only if it moves from a national market to a European single one.(original abstract)
Sektor usług finansowych obecnie wszedł w erę wyjątkowego zawirowania, określanego mianem Finch. Jego przyczyna wynika z zastosowania nowoczesnych technologii finansowania. FinTech to duży i różnorodny ekosystem, przybierający różne formy. Pobudzają one cyfrową transformację sektora finansowego, co stanowi wyzwanie dla wszystkich uczestniczących w nim podmiotów. Biorąc pod uwagę zarówno korzyści, jak i zagrożenia wynikające ze zmian w sektorze finansowym, państwa członkowskie przyjęły różne mechanizmy prawne wywierające negatywny wpływ na stworzenie jednolitego rynku usług finansowych. Różne przeszkody, w tym luki prawne i niepewność co do prawa, utrudniają realizację tego celu, co z kolei skutkuje rozdrobnieniem rynku i zachęca do arbitrażu regulacyjnego. Schemat piaskownicy regulacyjnej może zmniejszyć bariery tylko wtedy, gdy przeniesie się z rynku krajowego na europejski. (abstrakt oryginalny)
Rocznik
Tom
110
Strony
115--130
Opis fizyczny
Twórcy
  • University of Bari-Italy
Bibliografia
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  • EBA, The EBA's FinTech Roadmap. Conclusions from the consultation on the EBA's approach to Financial Technology (FINTECH), 15 March 2018, https://www.eba.europa.eu/documents/ 10180/1919160/EBA+FinTech+Roadmap.pdf.
  • EBA, REGULATORY SANDBOXES. A proposal to EBA by the Banking Stakeholders Group, 20 July 2017, https://www.eba.europa.eu/documents/10180/807776/BSG+Paper+on+ Regulatory+Sandboxes_20+July+2017.pdf.
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  • Maijoor Steven, Keynote Address: A Misured Approach to FinTech, ESMA71-319-70/27 February 2018, https://www.esma.europa.eu/sites/default/files/library/esma71-319-70_ second_annual_fintech_and_digital_innovation_conference_-_stanhope_hotel_brussels.pdf.
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171587420

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