Europejski Urząd Nadzoru Bankowego, Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Europejski Urząd Nadzoru Ubezpieczeń i Pracowniczych Programów Emerytalnych (European Insurance and Occupational Pensions Authority - EIOPA), Sprawozdanie z oceny bezpośredniego świadczenia usług finansowych BigTech w UE w 2023 r.

JC 2024 02

01/02/2024

Report on 2023 stocktaking of BigTech direct financial services provision in the EU

Joint-ESA Report

Executive Summary

In 2023 the European Supervisory Authorities (ESAs) conducted through the European Forum for Innovation Facilitators (EFIF) a cross-sectoral stocktake of BigTech subsidiaries carrying out financial services in the European Union (EU). The work was carried out in accordance with the ESAs’ mandate to monitor innovation in the financial sector, and as one of the EFIF’s work priorities for 2023 as a follow-up to the ESAs’ 2022 joint-response to the EC’s Call for Advice on Digital Finance (the CfA response) .

The stocktake was performed via a survey to the National Competent Authorities (NCAs) represented on the EFIF (i.e., the same authorities as represented on the Boards of the three ESAs). Responses were received from 24 NCAs representing 21 Member States of the EU and 3 EEA States.

As a result of the stocktake, the ESAs have identified that BigTechs...