Rivoluzione digitale e mercati finanziari: gli algoritmi nell’ecosistema FinTech
Journal title CITTADINANZA EUROPEA (LA)
Author/s Tommaso Nicola Poli
Publishing Year 2023 Issue 2023/1 Language Italian
Pages 25 P. 79-103 File size 316 KB
DOI 10.3280/CEU2023-001004
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The paper aims at analysing the main legal issues and implications related to the digitalization in the financial sector (the so-called FinTech). The applications of technological innovation foster a reduction in the costs of activities and services, a greater speed of transactions and a substantial increase in financial inclusion. However, they imply new risks, in general, for the stability of the financial system, the integrity of the market, the fair competition and security and, in particular, for the protection of the investor. These issues, that are made more complex by the cross-border and cross-sectoral nature of digital finance, highlight not only the inadequacy of the current legislation, but also of the traditional methods of regulation and supervision. The access of global players in the financial market also triggers anti-competitive dynamics towards authorized intermediaries and does not allow the investor to interact consciously. Taking into account the need to guarantee the financial stability and to protect investors, the essay focuses on the regulatory and supervisory approaches adopted so far in relation to this phenomenon.
Tommaso Nicola Poli, Rivoluzione digitale e mercati finanziari: gli algoritmi nell’ecosistema FinTech in "CITTADINANZA EUROPEA (LA)" 1/2023, pp 79-103, DOI: 10.3280/CEU2023-001004