‘FinTech’ is one of the buzz words of today. FinTech is the technology-driven innovation within the financial sector. FinTech often results in disintermediation, because components in the value chain around financial services are made more efficient, as well as more user friendly, cheaper and more tailored to the wishes of the client with the help of technological developments. The European Commission has published a FinTech consultation document in which 4 policy options are described that indicate both the possibilities and the challenges surrounding FinTech. These objectives are (i) fostering access to financial services for consumers and businesses, (ii) bringing down operational costs and increasing efficiency for the industry, (iii) making the single market more competitive by lowering barriers to entry and (iv) balancing greater data sharing and transparency with data security and protection needs. The European Commission has consulted the market on how the EU policy in the field of FinTech should be developed whereby the following 3 principles apply: technological neutrality, proportionality and market integrity. FG Lawyers responded to the FinTech consultation. FG Lawyers advocates for clarification form the European Commission and/or the relevant ESAs by means of publishing guidelines on how the FinTech developments should be treated under current laws and regulations (whether or not in a regulatory sandbox). You can find our response here.