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1.7. Fintech: Thorny Way of Regulation

Wednesday, 15 May
17:00 - 18:30

Hall #6, General Staff Building (6-8, Dvortsovaya sq.)

High-end financial technologies — after discussions by the legal community — are becoming a part of financial markets regulation. In 2018 the regulation of the relations providing for remote financial services was implemented. In 2019 the laws providing for transactions with different digital rights are expected, including the opportunity to raise investments with the help of investment platforms.

The discussion of 'financial marketplace' tools is close to the end. They will help a consumer and a user of financial services to search more actively for the desired financial services and to find them, while financial institutions will be able to compete to win a consumer through all the business environment.

Financial institutions are actively implementing big data technologies that provide for consumers’ individual preferences identification at early stages of their appearance. The subject of 'a digital profile' of a client has been introduced.

Digital financial technologies provide for costs reduction and active involvement of users’ business processes. These technologies satisfy the demand with better quality and coverage. The investments in this sphere provide for better profits opportunities.

However, great expectations related to new financial technologies sometimes call for extraordinary legal solutions. How far may we go along this way? Are we ready to contradict legal traditions and some principles of regulation? All these questions are neither idle or merely theoretical.

Moderator

Aleksey Guznov

Director Legal Department, Central Bank of the Russian Federation

Speakers

Anatoly Kozlachkov

Vice President, Association of Banks "Russia"

Tatyana Medvedeva

Senior Legal Advisor, Stock Market Development Center

Evgeny Pisarevskiy

First Vice-President, Social Insurance Fund of the Russian Federation

Yana Pureskina

Director of financial policy Department, Ministry of Finance of the Russian Federation

Niklas Schmidt

Partner, Wolf Theiss

Ivan Zimin

Acting Director of Financial Technologies Department, Bank of Russia


* The Programme may be subject to change