'Alarmist' EU Fintech Rules A Cause For Concern

Law360, London (March 20, 2017, 9:44 PM GMT) -- The breakneck pace of financial technology development could quickly hit the buffers if wary European lawmakers meeting Tuesday advance plans to directly regulate the industry, a move lawyers say is "alarmist" for a sector poised to revolutionize global finance.

A proposal before the European Parliament, worried about losing oversight of the latest round of financial innovation, foresees a clampdown on the growing use of blockchain, robo-advice, artificial intelligence and high-frequency trading in banking and financial markets. Financial lawyers, however, have urged policymakers not to see fintech...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.