Fintech Regulation Working Group with new statement on parliamentary initiative on Fintech
Swiss Fintech Innovations currently has four active working groups. One of them focuses on Fintech Regulation and is led by Thomas Puschmann. The group already works on various topics regarding fintech regulation. Among others, one goal of the work group is to develop statements for political and parliamentary initiatives. As a first result the working group provided two statements:
A first one was on «Vorschläge zur Verringerung von Markteintrittshürden für Fintech-Unternehmen» from 22. July 2016 as an input to the call of the “Federal Department of Finance (EFD)”.
The second one was on the postulate 15.4086: “Für einen wettbewerbsfähigen Finanzplatz im Bereich neuer Finanztechnologien“ which was sent on 14. September 2016 to the national council of Switzerland as an input to its discussion on 22. September 2016. The Fintech Regulation working group stressed five important points in this document:
- Coordination of efforts and fundamental work
- Development of a consistent general roadmap
- Lower barriers to market entry and fostering innovation
- Ensure a stable and coherent legal system
- Safeguard education for young professionals in digitalization
Swiss Fintech Innovations hopes this postulate to be accepted by the national council to further strengthen the importance for the Swiss Financial Center. The Fintech Regulation working group continues its work on the five topics mentioned above.