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Introducing robo-advice

Robo-adviceRobo-advice means the provision of investment advice or portfolio management services (in whole or in part) through an automated or semi-automated system used as a client-facing tool.


Types of robo-advice:

  1. investment advice (including, for example, investment advice by means of signalling);
  2. portfolio management services provided, for example, by means of automated portfolio management (signal trading, social trading, PAMM).

Contents« Back to FinTech

  • I. Automated investment advice

  • II. Automated portfolio management

  • III. Legislation

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Documents of international standardization institutions

European Supervisory Authorities

Date Name
18/07/2019 EBA publishes Report on regulatory perimeter, regulatory status and authorisation approaches in relation to FinTech activities
06/11/2018 ESMA Guidelines on certain aspects of the MiFID II suitability requirements
08/03/2018 EC: FinTech action plan: For a more competitive and innovative European financial sector
16/12/2016 ESAs JC Report on automation in financial advice

International Financial Market Regulation Organizations

Date Name
30/01/2020 BIS Policy responses to fintech: a cross-country overview
14/02/2019 FSB FinTech and market structure in financial services: Market developments and potential financial stability implications
08/12/2017 IOSCO Research Report on Financial Technologies (Fintech)
27/06/2017 FSB Financial Stability Implications from FinTech Supervisory and Regulatory Issues that Merit Authorities’ Attention
21/12/2016 IOSCO Update to the Report on the IOSCO Automated Advice Tools Survey Final Report