Norme
23, Jul 2019

Quali attività Fin-Tech sono esenti da autorizzazione in Europa?

1563887543 fintech

Le Fin-Tech pervadono ormai ogni angolo dell'attività svolta dalle banche e dagli intermediari finanziari e spesso i consulenti sono chiamati a definire quali regole di comportamento debbono essere adottate da esse nell'interlocuzione con le Autorità di Vigilanza. In particolare, ci si chiede quali delle molte attività svolte dalle FinTech richiedono una specifica autorizzazione da parte delle Autorità di Vigilanza, e quali invece no.

Il tema è in divenire, ma una prima tassonomia delle attività che NON richiedono autorizzazioni viene riportato nell'"EBA Report on Regulatory perimeter, regulatory status and authorisation approaches in relation to FinTech activities" che potete scaricare, direttamente dal sito dell'EBA, cliccando qui.

Pur trattandosi di descrizioni delle attività e dei modelli di business definiti in termini generali e senza alcuna pretesa di completezza, il Report dell'EBA evidenzia che le seguenti attività non sono attualmente soggette a regolamentazione europea o nazionale:

1. Crypto-assets: 

Crypto-assets typically fall outside the scope of current EU financial services regulation. For those crypto-assets that do fall within it (e.g. those that qualify as financial instruments within the meaning of the MiFID or as electronic money pursuant to the second Electronic Money Directive) certain associated activities are subject to financial regulation.

2. Technical services providers

- POS systems;

- virtual POS systems;

- enablers of NFC payment.

3. Technological support:

- apps for mobile payments;

- software companies that develop computer-assisted stock strategies used in portfolio management advice;

- providers of software solutions/RegTech firms for online identity verification for KYC/AML compliance services;

- technical platforms for mobile wallets and payments;

- technical services providers;

- development of apps used by associated banks;

- software for apps; apps for transferring money to savings account of the same customer within a specific bank; systems allowing ordering of goods online and paying in cash at a shop;

- providers of technical compliance services;

- biometric technology;

- technology tools for the provision of integrated solutions, consulting and software management for financial entities;

- technological support for crowdfunding platforms;

- software providing innovative banking solutions to customers; apps for the management of personal finances.

4. RegTech:

- firms using AI to extract content from financial documents;

- Big Data Analysis;

- platforms using machine learning to prevent fraud;

- firms using AI for credit risk analysis.

5. Other services relying on or provided via technology:

- apps for company valuation (through ratios relating to profit per share, debt, risk premium, risk-free rate, unlevered beta and expected profit growth);

- handling of changes in current accounts (transaction analysis, closing
an old account and opening a new account, notification to account payees).

6. Platform-based services:

- e.g. peer-to-peer lending;

- crowdfunding.

Activities subject to national regulation in some Member States but unregulated in others.

7. Platform-based marketplace services:

- platforms connecting businesses within a territorial region to facilitate their sales and purchases;

- platforms connecting businesses with investors to solve working capital needs for a fee;

- online marketplaces for global stock and forex trading strategies;

- automated trading marketplaces;

- platforms connecting SMEs that, through the use of algorithms, provide matching and clearing services for SMEs’ invoices and the netting of
mutual invoices (no cash/e-money flows within the system).

8. Intermediation services:

- credit intermediaries as per Article 4(5) of the MCD;

- factoring brokers (operating IT systems for intermediation between businesses and a factoring bank for the payment of a fee by the business).

9. Credit reference services:

- e.g. credit data gathering and sharing platform.

10. Comparison services.