Consultation by the European Supervisory Authorities (ESAs) on automation in financial advice

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA) has published a Discussion Paper on automation in financial advice. The Discussion Paper describes the current uses of automation in the provision of financial advice to customers in the financial sector (banking, insurance and securities sector) and explores the potential benefits and risks of automation in financial advice for consumers and service providers. The aim is to evaluate the possible need for regulation.

Please submit your comments on the EBA web site  by filling in the appropriate response form by 4 March 2016.

For further information, please contact

Pasi Orava, Market Supervisor, tel. +358 10 831 5567 or pasi.orava(at)fiva.fi.

Attachments

EBA press release: ESAs seek stakeholder input on automation in financial advice

ESMA press release: ESAs seek stakeholder input on automation in financial advice

EIOPA press release: ESAs seek stakeholder input on automation in financial advice