Front Matter Page

FINTECH NOTE

INSTITUTIONAL ARRANGEMENTS FOR FINTECH REGULATION AND SUPERVISION

Charles Taylor Christopher Wilson

Eija Holttinen Anastasiia Morozova

Front Matter Page

FINTECH NOTE

Institutional Arrangements for Fintech Regulation and Supervision

Prepared by Charles Taylor, Christopher Wilson, Eija Holttinen, and Anastasiia Morozova

December 2019

INTERNATIONAL MONETARY FUND

Front Matter Page

©2019 International Monetary Fund

Cover Design: IMF Multimedia Services

Composition: The Grauel Group

Names: Taylor, Charles R. (Charles Richard), 1950-, author. | Wilson, Christopher (Christopher Lindsay), author. | Holttinen, Eija, author. | Morozova, Anastasiia, author. | International Monetary Fund, publisher.

Title: Institutional arrangements for Fintech regulation and supervision / Prepared by Charles Taylor, Christopher Wilson, Eija Holttinen, and Anastasiia Morozova.

Other titles: FinTech notes (International Monetary Fund).

Description: Washington, DC : International Monetary Fund, 2019. | FinTech notes. | December 2019. | Includes bibliographical references.

Identifiers: ISBN 9781513520308 (paper)

Subjects: LCSH: Financial services industry—Technological innovations. | Financial services industry—Law and legislation.

Classification: LCC HG173.T39 2019

DISCLAIMER: Fintech Notes offer practical advice from IMF staff members to policymakers on important issues. The views expressed in Fintech Notes are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

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Contents

  • Abbreviations

  • Executive Summary

  • Introduction

  • Division of Fintech Responsibilities

  • Organization of Authorities’ Fintech Functions

  • Domestic and International Coordination

  • Prospects for Change

  • Appendix I. Fintech Functions by Agency

Abbreviations

ACPR

Autorité de Contrôle Prudentiel et de Résolution

AMF

Autorité des Marchés Financiers

BCBS

Basel Committee on Banking Supervision

BoE

Bank of England

CMA

capital markets authority

DFSA

Dubai Financial Services Authority

FCA

financial conduct authority

FINMA

Swiss Financial Market Supervisory Authority

GFIN

Global Financial Innovation Network

HKMA

Hong Kong Monetary Authority

JFSA

Japan Financial Services Agency

MAS

Monetary Authority of Singapore

MFSA

Malta Financial Services Authority

OCC

Office of the Comptroller of the Currency

SFC

Securities and Futures Commission

SSB

standard-setting body

UAE

United Arab Emirates

Institutional Arrangements for Fintech Regulation and Supervision
Author: Mr. Charles R Taylor, Christopher Wilson, Eija Holttinen, and Anastasiia Morozova