The European Commission Consults on its Approach to FinTech

On 23 March 2017 the European Commission published a consultation document on its policy approach towards technological innovation in financial services (‘Consultation’). The Consultation sets out three core principles of technological neutrality, proportionality and integrity and presents a broad and open discussion about whether current EU regulatory frameworks foster technological innovation; responses must be submitted by 15 June 2017. In this article, John Casanova, Max Savoie and Vishnu Shankar detail the contents of the Consultation and explore the Commission’s thinking, before discussing related data privacy issues and concluding by assessing how Brexit has and will continue to affect the Commission’s thinking in this area.