Beside impacting nearly all other aspects of everyday’s life, new technologies are also changing the financial industry and the way consumers and firms access financial services.

But while technological innovation in finance is not new, investment in technology and the pace of innovation increased significantly in recent years, on a very wide array of issues ranging from social networks, artificial intelligence, machine learning, mobile applications, distributed ledger technology (DLT), cloud computing or  big data analytics. FinTech gives also rise to new services and business models, involving the whole financial sector.

Initial Coin Offerings (ICOs) are an example of Blockchain application, representing a new way for organisations to raise capital, and emerging as an alternative to the traditional models of startup investment and e-commerce growth. Like an Initial Public Offering (IPO), an ICO can be used to raise funds, but unlike an IPO, it is less familiar to regulators. In an ICO, blockchain technology enables the issuance of virtual coins -or tokens in exchange for a cryptocurrency payment. ICOs recently gained increasing attention from investors, businesses, media and regulators, and became popular, because of the ease with which they can be used by businesses to obtain new, - and as some argue- more global and democratic public funding, with less complexity and greater speed than traditional methods. However, like all pioneering new fields, they are not without risks and ethical issues to consider.

At international level, FinTech is a priority area for the G20, and the European Commission is about to publish its  Action Plan on Fintech, which entails as series of legislative and non-legislative actions to be pursued a short medium and long term.

Finance professionals and professional accountants will need to adapt to the new Fintech, Blockchain and ICOs landscapes to be able guide their clients and organisations seeking funding. They thus need to maintain an awareness and understanding of the underlying issues, including tax and compliance laws.

With this in mind, ACCA and EY are organising a joint conference to discuss the latest policy development on Fintech as well as risks and opportunities of ICOs, which are at the forefront of emerging technology in blockchain and distributed ledgers.

RSVP: by 13 March to cecile.bonino@accaglobal.com

Draft agenda

14.20h Registration and coffee

14.30h Welcome speech by Maggie McGhee, Director of Professional Insights, ACCA

14.40h Key note speech, Elina Melngaile, Member of Cabinet of Commissioner Valdis Dombrovskis, tbc

14.50h Panel discussion on Fintech and Blockchain policy developments and next steps, moderated by Elizabeth Krahulecz, Head of EMEIA Public Policy Brussels Office

• Delphine Leroy, Team leader of the Fintech team, DG FISMA
• Marcello Topa, Chairman of the EBF Blockchain Task Force and Director, EMEA Market Policy & Strategy Citi - Markets and Securities Services
• Ken Timsit, CEO, ConsenSys France
• Fabian Vandenreydt , Executive Chairman, Bhive, tbc

16.00h Q&As

16.20h coffee break

16.40h Panel 2 Initial Coin Offering (ICO):  a new way to raise capital? moderated by Narayanan Vaidyanathan, head of business futures, ACCA

• Kiril Bensonoff,  blockchain investor and partner at Caviar
• Eva Kaili, MEP
• Frank Guiader, Head of Fintech, Innovation and Competitiveness, Autorité des Marchés Financiers
• Anne Choné, Senior Risk Analysis Officer, Innovation and Products Team, European Securities and Markets Authority (ESMA)

17.40h Q&As

17.55h Concluding remarks,  Alessandro Cenderello, Partner EY

18.00h Cocktail reception

Cecile Bonino

Head of EU Affairs

ACCA
CBI business house
14 rue de la Science
BE-1040 Brussels
Tel:+32 (0) 2 286 11 37
Mob: +44 (0) 7809595008
www.accaglobal.com

Follow us on Twitter @ACCAViews