ESMA responds to European Commission consultation on the Digital Finance Strategy

29 June 2020

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Thursday, July 2, 2020

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29 June 2020
Innovation and Products

The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has submitted a response to the European Commissions (EC) consultation on a new digital finance strategy for the European Union (EU).
Cooperation around financial innovation at EU level is key to remove fragmentation in the digital financial services market.
ESMAs response also outlines several conditions needed for a well-regulated data-driven financial sector, including appropriate skills, data standardisation and data security.
A letter to the EC from Steven Maijoor, the ESMA Chair, accompanies the response and summarises the main points.