On March 23, 2017, the European Commission published a consultation paper seeking views to develop its policy approach towards technological innovation in financial services.
The paper outlines a range of potential uses of distributed ledger technology ("DLT") in financial services, including:
- Allowing the primary issuance of securities to be performed directly onto a distribution ledger with common reference data. Holders of such securities could use DLT to vote in the general meeting of shareholders.
- Supporting automated financial reporting to investors and regulatory authorities.
The Commission is seeking views on matters including the main regulatory or supervisory obstacles (stemming from both EU and national law) to the deployment of DLT solutions in the financial sector. The deadline for responses is June 15, 2017.
The full consultation paper is available at:
https://ec.europa.eu/info/sites/info/files/2017-fintech-consultation-document_en_0.pdf
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