The European Securities and Markets Authority (ESMA) said on Friday 12 July that most new innovative companies using financial technology (FinTech) could operate within the current framework of EU rules, thus excluding, for the time being, the need for new rules.
This is the main conclusion of its report, which identifies current approaches of licencing regimes for innovative 'FinTech' business models in Europe, as requested by the European Commission in its action plan on 'FinTech'...