Alla fine del 2019 il ROFIEG, gruppo di esperti del settore finanziario istituito dalla Commissione europea per riesaminare l’applicazione e l’idoneità del quadro giuridico e normativo dell’Unione europea sul FinTech, ha pubblicato il report finale della sua attività: Obstacles to Financial Innovation: 30 recommendations on regulation, innovation and finance (pdf).
Il report raccoglie 30 diverse raccomandazioni per migliorare il quadro regolatorio europeo in materia finanziaria.
In the concluding chapter of this report, we indicate our top Recommendations in terms of regulatory reform, highlighting the need to address as a matter of priority:
The explainability and interpretability of technology, especially AI, as measures to protect consumers and businesses and facilitate supervision, or to meet supervisory expectations (Recommendation 1);
The creation of a regulatory framework built on the principle that activities that create the same risks should be governed by the same rules, with a view to ensuring adequate regulation and supervision and maintaining a level playing field (Recommendation 13);
The ending of regulatory fragmentation, especially in the area of customer due diligence (CDD)/know your customer (KYC), as an important step towards creating a level playing field (Recommendations 15-17);
Preventing unfair treatment of competing downstream services by large, vertically integrated platforms, in order to strengthen innovation and maintain consumer choices (Recommendation 22);
The strengthening of the framework for access to, processing and sharing of data, in order to promote innovation and competition and establish a level playing field amongst actors (Recommendations 27 and 28).Obstacles to Financial Innovation: 30 recommendations on regulation, innovation and finance, pp. 12-13