EC held Digital Day 2018 and brought together ministers, representatives of EU countries, industry, academia, and civil society representatives to encourage cooperation in artificial intelligence, blockchain, eHealth, and innovation. Discussions were focused on shaping the future of Europe in the context of technological developments and building a strong Digital Single Market, with increased investment and digital skills being crucial. EC also published the opening speeches of Vice-President Andrus Ansip and Commissioner Mariya Gabriel.
At Digital Day 2018, the attendees recalled their commitment to complete the Digital Single Market and agreed to work together more in a series of key areas, such as artificial intelligence, blockchain, and innovation, for the future of Europe. On the Digital Day 2018, 22 European countries signed a Declaration on the establishment of a European Blockchain Partnership while 25 European countries signed a Declaration of cooperation on Artificial Intelligence. The blockchain partnership will be a vehicle for cooperation among member states to exchange experience and expertise in technical and regulatory fields and prepare for the launch of EU-wide blockchain applications across the Digital Single Market for the benefit of the public and private sectors. This should ensure that Europe continues to play a leading role in the development and roll-out of blockchain technologies.
Out of the 25 legislative initiatives presented by the Juncker Commission so far toward building the Digital single Market, 11 have been adopted while 14 legislative initiatives are still on the table, including the new cybersecurity and data economy proposals.
- Press Release
- Blockchain Partnership
- Cooperation on Artificial Intelligence
- Speech of Vice President
- Speech of Commissioner
- Legislative Initiatives (PDF)
- Digital Day 2017
Keywords: Europe, EU, Banking, Insurance, Securities, PMI, Regtech, Fintech, Digital Single Market, Blockchain, EC
APRA updated the lists of the Direct to APRA (D2A) validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
EC adopted a package that includes the digital finance and retail payments strategies and the legislative proposals for regulatory frameworks on crypto-assets and digital operational resilience.
ECB published an opinion (CON/2020/22) on proposals for regulations amending the securitization framework of EU, in response to the COVID-19 pandemic.
FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.
MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.
FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.
ISDA issued a letter to regulators to flag that it now expects the supplement to the 2006 ISDA Definitions and the Interbank Offered Rate (IBOR) Fallbacks Protocol to be effective around mid- to late-January 2021.
APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.
ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.
BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.