05/02/24 (Agence Europe) – In a report published on Thursday 1 February, the European Securities and Markets Authority, the European Banking Authority and the European Insurance Authority take stock of the major technology companies active as direct financial service providers in 2023. Six BigTech subsidiaries are authorised as electronic money institutions, two as payment or credit institutions and five as intermediaries or insurance companies. Twenty-four competent authorities representing 21 EU Member States contributed to the survey through the European Forum for Innovation Facilitators. The European authorities believe that exchanges between companies and supervisory institutions must be improved and that current regulations should evolve if the direct financial services activities of ‘Big Techs’ develop further. Link to the report: https://aeur.eu/f/apv (BD)