EBA, EIOPA and ESMA (together, the ESAs) are hosting a workshop to present preliminary findings and engage in a discussion with stakeholders regarding the European Commission’s request for technical advice on digital finance and related issues.

The agenda will cover the preliminary ESAs’ findings on market developments, risks and opportunities, and the regulatory and supervisory challenges raised by the digitalization of financial services. The ESAs will also present considerations for the way forward.

The objective of this workshop is to discuss the preliminary findings and potential way forward with the participants with a view to further informing their research, analysis and proposals which will be submitted to the European Commission and published in January 2022.

The workshop is to be held on 10 September 2021 from 10:00 to 12:30, as an online interactive workshop.

The workshop is open to all stakeholders active in the digital finance field, such as financial entities, ICT service providers, digital platforms, industry and consumers associations, supervisors, consultants, academics. This workshop is not open to press.

Register here

Password: ESA2021

Deadline for registrations: 03/09/2021 16:00 Paris time

Background

The European Commission published in February 2021 its Call for Advice (CfA) addressed to the ESAs to seek their technical advice on Digital Finance and related issues. The CfA calls on the ESAs to assess whether some adaptations to the regulation and supervision of (i) more fragmented or non-integrated value chains, (ii) platforms and bundling of services, and (iii) risks of groups combining different activities are needed (requests 3.1, 3.2 and 3.3).

The final ESA Joint Advice to the European Commission on these requests will be published at the end of January 2022.

The CfA focuses on the digitalization of financial services and the new prudential, conduct and financial stability risks that may arise from the digitalization with the aim to ensure that the prudential and conduct regulation and supervision frameworks are future proof for the new financial ecosystem. The intention is to facilitate the digital transformation of the finance sector in accordance with the principle of technological neutrality and a risk-based approach to financial sector regulation and supervision.