FinTech – IPF 12

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IOSCO and ESMA indicAte no action is currently needed in relation to FinTech in securities markets

The International Organization of Securities Commissions (IOSCO) has issued a report looking at the interaction between FinTech and the securities markets industry. The report highlights the potential for cross-border challenges to arise, given that a majority of technology firms operate globally, but that regulation remains very much local, and contained within national or regional borders. IN addition, the European Securities and Markets Authority (ESMA) has concluded – following a public consultation – that it would be premature to introduce new regulation on blockchain, as the technology is still evolving.