Capital Markets Union and Fintech : political agreement to boost crowdfunding in the EU

Argent

The European Commission welcomes the provisional political agreement reached yesterday evening between the European Parliament and the Council on its proposal to boost Crowdfunding in the EU.

The proposal, a key building block of the Capital Markets Union, aims to harness the opportunities presented by emerging technology-enabled innovations in the financial sector, known as FinTech. With this agreement, 12 out of 13 Capital Markets Union legislative proposals have been adopted or agreed at EU level.

Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People said: “I welcome the agreement reached on our crowdfunding proposal. This is an important source of alternative financing for many innovative European entrepreneurs and start-ups, which may struggle to access traditional financing channels. An EU crowdfunding licence would help crowdfunding platforms scale up in Europe. This will allow investors to match up with companies from all over the EU, bringing more opportunities for firms and entrepreneurs to pitch their ideas to a wider base of investors.” Continue reading “Capital Markets Union and Fintech : political agreement to boost crowdfunding in the EU”

FinTech : Commission takes action for a more competitive and innovative financial market

Blockchain

The European Commission unveiled an Action Plan on how to harness the opportunities presented by technology-enabled innovation in financial services (FinTech).

Europe should become a global hub for FinTech, with EU businesses and investors able to make most of the advantages offered by the Single Market in this fast-moving sector. As a first major deliverable, the Commission is also putting forward new rules that will help crowdfunding platforms to grow across the EU’s single market.

Today’s Action Plan envisages to enable the financial sector to make use of the rapid advances in new technologies, such as blockchain, artificial intelligence and cloud services. At the same time, it seeks to make markets safer and easier to access for new players. This will benefit consumers, investors, banks and new market players alike. In addition, the Commission is proposing a pan-European label for platforms, so that a platform licensed in one country can operate across the EU.

The Action Plan is part of the Commission’s efforts to build a Capital Markets Union (CMU) and a true single market for consumer financial services. It is also part of its drive to create a Digital Single Market. The Commission aims to make EU rules more future-oriented and aligned with the rapid advance of technological development. Continue reading “FinTech : Commission takes action for a more competitive and innovative financial market”