ESMA Reports on Licensing of FinTech Business Models

National Competent Authorities do not typically distinguish between FinTech and traditional business models in their authorising and licensing activities. This is one of the findings set out in ESMA’s recently published report on the licensing regimes of FinTech firms (the “Report”), which provides an overview of ESMA’s work on mapping and assessing licensing approaches for innovative FinTech business models and divergences in national licensing regimes. Based on the evidence gathered, ESMA concludes that at present most innovative business models can operate within the existing EU laws and does not put forward any additional recommendations for changes in EU regulation at this stage.

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