Italy

Topic: Fintech

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FSB report on the regulation, supervision and oversight of “global stablecoin” arrangements

On 7 October 2021, the Financial Stability Board (FSB) published a progress report setting out the progress made on the implementation of its high-level recommendations for the regulation, supervision and oversight of global stablecoin arrangements.  The progress report incorporates the results of a stocktake of the implementation of the FSB’s high level recommendations in 21 … Continue Reading

CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements

On 5 October 2021, the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a consultative report that proposes guidance on the application of the Principles for Financial Market Infrastructures (PFMIs) to systemically important stablecoin arrangements (SAs), including the entities integral to such arrangements. The proposed guidance focuses … Continue Reading

IOSCO publishes guidance for intermediaries and asset managers using Artificial Intelligence and Machine Learning

On 7 September 2021, the International Organization of Securities Commissions (IOSCO) published guidance to help its members regulate and supervise the use of Artificial Intelligence (AI) and Machine Learning (ML) by market intermediaries and asset managers, following its consultation report published in June. The guidance consists of six measures that reflect expected standards of conduct … Continue Reading

Insurance Europe publishes its response to the European Commission consultation on the Regulation on AI

Insurance Europe has published a response to the European Commission consultation on proposals for a regulation on the use of artificial intelligence. Insurance Europe welcomes the overall objective of creating a principles-based framework of requirements and the development of mandatory requirements for high-risk AI systems that pose a risk to  health and safety or the … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading

EU and UK move towards the “travel rule” implementation for crypto-assets

On 20 July 2021 the European Commission (the Commission) published a proposed Regulation on transfer of funds and certain crypto-assets. The proposed legislation will recast Regulation 2015/847 on the transfer of funds, and once adopted, it will implement in European law the Financial Action Task Force (FATF) recommendation to accompany the transfer of crypto-assets with … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading

ESMA report on the use of FinTech by CSDs

On 6 August 2021, the European Securities and Markets Authority (ESMA) published a report on the use of FinTech by central securities depositories (CSDs). The report focuses on the use of FinTech by CSDs. ESMA has gathered the views of Member State competent authorities (NCAs) and relevant market players on the existing experience with the … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading

Report on CBDCs

On 9 July 2021, there was published a report on central bank digital currencies (CBDCs). The report was released by the Committee on Payments and Market Infrastructures, the Bank for International Settlements Innovation Hub, the International Monetary Fund and the World Bank. The report looks at how CBDCs could facilitate enhanced cross-border payments, and how … Continue Reading

EBA report in RegTech

On 29 June 2021, the European Banking Authority (EBA) published an analysis of the current RegTech landscape in the EU. The report assesses the overall benefits and challenges faced by financial institutions and RegTech providers in the use of RegTech. It also identifies potential risks arising from RegTech solutions that supervisors will need to address … Continue Reading

EIOPA publishes a report on AI governance principles for the European insurance sector

The European Insurance and Occupational Pensions Authority (EIOPA) has published a report called ‘Artificial intelligence governance principles: towards ethical and trustworthy artificial intelligence in the European insurance sector’. The report has been written in the context of the proliferation in the use of artificial intelligence (AI) in insurance and the use of Big Data in … Continue Reading

BIS and BoE launch Innovation Hub London centre

On 11 June 2021, the Bank for International Settlements (BIS) and the Bank of England announced the launch of a BIS Innovation Hub London Centre, the fourth new Innovation Hub Centre to be opened in the past two years. The launch is part of a plan to expand the Hub’s global reach, which also includes … Continue Reading

Basel Committee consults on prudential treatment of cryptoasset exposures

On 10 June 2021, the Basel Committee on Banking Supervision (BCBS) launched a public consultation on the prudential treatment of cryptoasset exposures by credit institutions. Following on from the BCBS’ December 2019 discussion paper where it sought stakeholders’ views on a range of issues relating to the prudential treatment of cryptoassets, the current consultation document … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading

Council close to adopting general approach on DORA proposal

We understand that the Council of the European Union (the Council) is getting closer to reaching a general approach on the proposed regulation on digital operational resilience for the EU financial sector (DORA). The Council, which consists of the EU Member States, has been discussing the proposal since September 2020. In advance of the Council … Continue Reading

ESMA launches call for evidence on digital finance

On 25 May 2021, the European Securities and Markets Authority (ESMA) launched a call for evidence on digital finance. This call for evidence follows a request for technical advice to the European Supervisory Authorities (ESAs) that was issued by the European Commission (Commission) in February 2021, and which concerned three main issues: (1) the growing … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading

DORA review: Member States consider inclusion of payment card networks and retail payment infrastructures

On 28 April 2021 the Portuguese Presidency of the Council held a meeting of a Council working group in order to continue its legislative review of the proposed regulation on digital operational resilience for the financial sector (DORA). During the meeting, Member States discussed certain issues relating to the scope of the proposed legislation, as … Continue Reading

Navigating global crypto-custody requirements

29 April 2021 09:00 – 10:00 BST / 16:00 – 17:00 HKT 16:00 – 17:00 BST / 11:00 – 12:00 EDT As the global crypto-economy continues to grow and mature, one area stands out as a critical core capability: custody. In this webinar, members of our global financial services team will compare notes on their … Continue Reading

Member States consider amendments to MiCA proposal

On 18 March 2021, the Portuguese Presidency of the Council hosted a meeting of a working group where representatives of Member States continued discussions over the proposed regulation on markets in crypto-assets (MiCA). The agenda for the meeting included discussion on the MiCA provisions concerning cross-border and supervision issues, as well as the Presidency’s drafting … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

ECON Rapporteur publishes draft report on DLT market infrastructures pilot regime

On 12 March 2021, European Parliament rapporteur Johan van Overtveldt (BE, ECR) published his draft report on the European Commission’s proposal for a Regulation on a pilot regime for market infrastructures based on distributed ledger technology (DLT) [link]. The proposal is part of the Commission’s September 2020 legislative package, which also includes a proposal for … Continue Reading
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