Digital finance

How does the uptake of Artificial Intelligence systems impact finance?

What is the Data Hub - the European Commission’s new data-sharing tool?

The European Commission has published a draft interpretative notice to provide clarity to market participants on the transitional provision (including on the dark trading cap) of the Markets in Financial Instruments Regulation (MiFIR) review. The revised MiFIR rules, politically agreed in June 2023, will apply from 28 March 2024, with certain elements of the regulation phasing in over the coming years. The new rules cover the limitations regarding “dark trading” (trading without pre-trade transparency), moving from a double to a single volume cap. The EU is now preparing Commission delegated regulations specifying the new rules, including for the single volume cap. The transitional regime laid down in Article 54(3) of MiFIR sets out that the existing Commission delegated regulations remain applicable until the new ones are adopted. This means, for instance, that the current double volume cap will remain in place until the new Commission delegated regulations covering the single volume cap enter into force.

Online only

Don’t miss this online event, taking place on Thursday 21 March 2024, at 09:30 - 11:00. The event will launch the second phase of the Digital Finance Platform, and take stock of the current state of play of digital finance and the way ahead.

Another step closer to the implementation of DORA and MiCA.

23 February 2024

ESMA Chair on what changes the MiCA implementation is likely to bring crypto-asset service providers.

Ms McGuinness speaks at a recent conference on fintech and regulation.

27 November 2023

Save the date for a high-leel conference on financial literacy, resilience and inclusion, co-organised by the European Commission and the Belgian Financial Services and Markets Authority (FSMA) on 20 February 2024.

The implementation of the Markets in Crypto-assets (MiCA) Regulation is on track to apply as of 2024! The Commission has launched a 4-week consultation on the Have Your Say portal on four delegated regulations to be adopted by the Commission under Regulation (EU) 2023/1114 on markets in crypto-assets. These delegated regulations are the first of a series of delegated acts to complement and complete the EU regulatory framework on crypto-assets. The Commission would like to hear your views! The feedback period will end on 6 December 2023 (midnight Brussels time).

5 October 2023

19 October 2023

Legislative proposal lays the groundwork for a possible digital euro.

28 June 2023

It’s been a busy day at the European Commission! First, two proposals that aim to bring payments and the wider financial sector into the digital age were adopted. The new rules will create new opportunities for EU consumers and businesses by modernising payment services through the revision of the current Payment Services Directive PSD2 and opening financial services data by establishing a Financial Data Access Framework. Second, a proposal setting out a legal framework to regulate the essential elements of a possible digital form of the euro, while ensuring that individuals and businesses can continue to access and pay with euro banknotes and coins across the Euro area.

Ms McGuinness gives speeches on the digital euro and Open Finance.

Are you a financial company seeking to access non-public data to test innovative products and applications? Do you want to help the Commission develop a new project designed to make this kind of access to supervisory data possible? Then get in touch! Tell us what you think the most promising use cases are for which such datasets could be shared – and which datasets you would like to use for testing.

Why do we need a global approach to regulating crypto-assets?