Digitalisation

Digitalisation is fundamentally changing the world. The financial sector, politics and supervisory authorities  must recognise the opportunities of technological progress for the industry and jointly tackle its challenges.

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When adopting the European financial market regulation, the legislator could not foresee technological developments such as Distributed Ledger Technology (DLT). This now results in regulatory obstacles for the implementation of DLT-based market infrastructure. The same is true at national level, for example shares may only be issued by means of a paper certificate, and the mandatory central securities depository stands in the way of the new concept of Decentralised Finance. At the same time, the European financial industry finds itself competing with other global financial centres that are working on innovative concepts to further develop the financial market architecture.

In order to ensure that German investment fund companies catch up with the digital transformation and the technological competitiveness of the financial industry, BVI is promoting a national blockchain initiative for the asset management sector. By using DLT, transactions could be processed quickly, securely and efficiently. The goal is to bring together players from the financial industry, politics and supervisory authority to agree on a technical architecture for trading in digital assets. An essential building block is the introduction of a digital euro as a means of payment for DLT applications. In order to be able to trade fund shares via blockchain, digital fund shares would have to be introduced in the German Capital Investment Code (the Kapitalanlagegesetzbuch). In addition, BVI advocates enabling a digital market infrastructure under EU law and allowing funds to acquire bitcoin or tokenised tangible assets.

Other fields of action of BVI in the area of digitalisation are cyber security and the use of artificial intelligence in asset management.

Positions

Digitalisation

5/3/2021

Preliminary BVI position on a Proposal for a Regulation on the digital operational resilience of the financial sector (DORA) accompanied by a Directive

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Digitalisation

14/1/2021

Stellungnahme zum Entwurf eines Gesetzes zur Umsetzung der Digitalisierungsrichtlinie

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Digitalisation

12/1/2021

BVI supports ECB's considerations for a digital euro

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Digitalisation

11/1/2021

BVI`s position on the ESMA Consultation for Guidelines on the MiFID II/MiFIR obligations on market data

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Digitalisation

11/1/2021

BVI position on the Commission’s proposals for a regulation on markets in crypto-assets and a pilot regime for DLT-based market infrastructure

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Digitalisation

26/10/2020

BVI Position on IOSCO’s Consultation Report on the use of artificial intelligence and machine learning by market intermediaries and asset managers

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Digitalisation

16/10/2020

Erste Einschätzung des BVI zum „Digital Finance Package“ der Europäischen Kommission zur Vorlage beim Bundesministerium der Finanzen

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Digitalisation

14/9/2020

Stellungnahme des BVI zum Referentenentwurf eines Gesetzes zur Einführung von elektronischen Wertpapieren (eWpG)

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Digitalisation

1/9/2020

BVI position on ESMA’s Consultation paper on Draft Guidelines on Outsourcing to Cloud Service Providers (CSP)

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Digitalisation

30/6/2020

BVI Position on the European Commission’s Consultation on a new Digital Finance Strategy

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Digitalisation

19/3/2020

Public consultation an EU framework for markets in crypto-assets

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Digitalisation

12/4/2019

BVI-Stellungnahme zu den Eckpunkten für die regulatorische Behandlung von elektronischen Wertpapieren und Krypto-Token

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Digitalisation

29/3/2019

BVI-Stellungnahme zur Online-Konsultation des Bundesministeriums der Finanzen und des Bundesministeriums für Wirtschaft und Energie zur Blockchain-Strategie.

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Digitalisation

16/1/2019

BVI-Position zur Digitalisierung

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Digitalisation

28/9/2018

Big Data trifft auf künstliche Intelligenz – Begleitender Fragebogen zur Konsultation der BaFin-Studie

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BVI's positions from A-Z

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