argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - BigTechs in finance - Steven Maijoor

On 3^rd March 2020, the Chair of the European Securities and Markets Authority (ESMA), Steven Maijoor, attended the 4th Annual Fintech Conference in Brussels, during which he delivered the keynote address with a speech that touched several fields and areas. Indeed, Mr Maijoor decided to focus the attention of his speech specifically on BigTech financial services, which represent a difficult topic nowadays. In particular, he discussed about the trends and potential growth, the benefits and risks of BigTech in finance, distributed ledger technology (DLT), global stablecoins and the need for a coordinated approach amongst regulators. During his speech, the Chair highlighted that BigTechs in finance may bring benefits such as efficiency gains and personalised services, but they also connect with different risks. As it appeared clear in the speech, the data-based business model of BigTechs in finance raises issues around privacy and could facilitate price discrimination. Mr Maijoor also advised not to forget that, in the area of financial innovation, regulators will increasingly need to cooperate closely and take coordinated action at European level and internationally.