During the past year the ALFI Digital/FinTech Forum further facilitated the dialogue and bridges between the investment management industry and the technology sector. On the one hand, initiatives identifying and mapping innovative FinTech solutions to support the core activities of the fund industry, such as KYD (know-your-distributor) and D2C (direct-to-consumers) matters, took place throughout 2021. On the other hand, dedicated working groups continued to raise awareness on selected technological developments including tokenisation of the industry.
2021-2022 is characterised by a marked migration of the digital and fintech topics into regulatory territories. In the context of the definition of a European and international framework for the digitalisation of financial markets, ALFI digital and regulatory experts instituted and communicated proposals to contribute to establishing a clear, competitive and favourable digital ecosystem, and addressing the needs of the investment fund community.
This advocacy work materialised through the following contributions and participation in consultations:
- EU Commission public consultation on an EU framework for markets in crypto-assets
- Position on MiCA, DORA and the Pilot Regime
- ESMA call for evidence on digital finance
- ESMA call for evidence on the DLT Pilot Regime
- IOSCO public comment on consultation report on retail distribution and digitalisation
In addition to the supranational agenda, following the clarification of the CSSF position through the publication of the FAQs on virtual assets for UCIs (undertakings for collective investment) and CIs (credit institutions), ALFI engaged with the CSSF to voice industry feedback and comments in a constructive and structured dialogue.
Gildas Blanchard, Industry Affairs Adviser