The MonAsia Association attended the 9th Annual EU Financial Regulation Conference, moderated by Jacki Davis, who is a leading commentator and analyst on European Union affairs, a very experienced journalist and speaker.
Marcel Haag, Director, FISMA B, European Commission, opened the conference saying that in the light of the Covid-19 crisis and its effect on the economy, the European Commission has acted to support a fast and resilient recovery with short-term measures, as well as with initiatives that aim at tackling structural challenges. He spoke about the Commission’s work strands of sustainable finance, capital markets union, and digital finance. He stated that sustainable finance remains at the heart of climate policies and has been given a new impetus with the recent announcement that 30 percent of the EU’s recovery package will be financed by green bonds.
Moving on to digital finance, the Commission’s strategy objective is ensuring that the EU financial sector embraces all the opportunities offered by the digital revolution. The recently launched Digital Finance Package sets out this strategy and is accompanied by two legislative proposals laying down common rules for crypto assets and digital resilience.
Mr Haag explained that the Commission’s policy focuses on four strategic priorities. First, to address market fragmentation in the digital single market to give European consumers genuine access to cross-border services and to foster the scaling-up of European financial firms. Second, to ensure that the European regulatory framework takes digital innovation forward in the interests of consumers and market efficiency. Third, to create a European financial data space to promote data innovation. Fourth, to embrace the opportunities of digital finance, while being aware that the digital transformation of financial services also comes with new challenges and risks, especially in the areas of cybersecurity and data protection.
After Mr Haag's speech followed a discussion among the panel of speakers on the future of European Financial Markets and Digital transformation of EU’s financial services.
To conclude the discussed subjects of the conference, Anastasia Lutcenko interviewed the Vice-President of MonAsia, Ezio Mazzalupi, financial expert, consultant advisor and visiting university professor. He explains his point of view on the Digital transformation of EU's financial services:
Président de l'association
