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FinTech

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The innovative business models created by the FinTech industry have significantly disrupted the banking and insurance sector in recent years. A growing number of young FinTech companies are focusing on technical developments aimed at digital transformation. Banks and traditional financial services providers are under pressure to align their products with FinTech models – a trend that will continue in financial technology over the coming years.

In addition to digital asset management, FinTech companies have mostly launched mobile payment methods, financing platforms, cryptocurrencies and innovative payment systems. But overcoming technological challenges is only part of the story. The FinTech industry faces many legal regulations and requirements that every FinTech company must comply with.

Legal expertise tailored to the needs of the FinTech industry

CMS advises banks, financial services providers and FinTech industry start-ups around implementing their digital business models. We provide FinTech companies with legal certainty for their online financial services and payment services via a core team of experienced lawyers. The individual team members specialise in areas including banking law and regulation, corporate law, competition law, IT and data protection law. Where needed, our full-service approach enables us to add experts from other disciplines to our FinTech team on a case-by-case basis. 

Our lawyers not only have in-depth legal knowledge relevant to the FinTech industry, in many cases they also have experience of software development or of launching start-ups in the digital space.

The FinTech industry is global – just like our services

CMS advises FinTech companies both within Germany and internationally. If specific knowledge of a different jurisdiction is required, we bring in FinTech specialists from the worldwide CMS network. Seamless service across national borders is routine for us, rather than the exception.

Please feel free to contact us if you have any questions about FinTech and the associated legal and tax issues.

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January 2019
SECOND STUDY ON THE B2B FINTECH MAR­KET IN GER­MANY
CMS and ING Whole­sale Bank­ing, act­ing in as­so­ci­ation with FIN­ANCE magazine, have pro­duced a B2B fintech study en­titled “Love at third sight – How B2B fintechs and banks get to­geth­er” and are mak­ing...
May 2017
First study on the B2B fintech mar­ket in Ger­many: 'Dis­ruptors, En­a­blers,...
Fintechs are cur­rently the sub­ject of a great deal of at­ten­tion: with the pub­lic at large but, of course, primar­ily with­in the fin­an­cial sec­tor. Among the gen­er­al pub­lic, there is hot de­bate around...

Die IT-Praxis berät intensiv zu Fragen der Digitalisierung und zählt zu den führenden. Das gelingt v.a., weil sie Teil einer personell starken TMT-Gruppe ist, und die Schnittstellenpraxen – wie beispielsweise zum Bankrecht – integriert. Dabei zeigt CMS immer wieder die funktionierende standort- wie praxisübergreifende Zusammenarbeit. So ist es nicht überraschend, dass Comdirect bei der Einführung eines Robo-Advisory-Produktes auf die Kanzlei setzt.
JUVE Handbuch, 2017/2018
CMS sticht am Markt insbesondere durch die starke Fokussierung auf industrieübergreifende Digitalisierungsthemen hervor, wobei das […] Team besonders tiefe Expertise zu IoT-Plattformen, Fin-, Med- und InsureTech sowie digitalen Innovationsprodukten vorweisen kann.
The Legal 500, 2018

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December 2020
MiCA on point
In ad­di­tion to provid­ing leg­al ad­vice, CMS care­fully mon­it­ors the latest de­vel­op­ments in the mar­ket and shapes them through its in­volve­ment in ad­vis­ory le­gis­lat­ive com­mit­tees. In this way, we keep up...
30 October 2019
Can in­sur­tech of­fer a solu­tion to the find­ings of the FCA’s gen­er­al in­sur­ance...
FCA in­ter­im re­port – gen­er­al in­sur­ance pri­cing prac­tices mar­ket study Earli­er this month the FCA pub­lished the in­ter­im re­port (MS18/1.2) of its Mar­ket Study on Gen­er­al In­sur­ance Pri­cing Prac­tices...
25 October 2019
Ap­plic­a­tions to co­hort 6 of the FCA’s reg­u­lat­ory sand­box now open
The FCA has opened its ap­plic­a­tion pro­cess for firms wish­ing to join co­hort 6 of its reg­u­lat­ory sand­box (“Sand­box”). The FCA will be ac­cept­ing ap­plic­a­tions from now un­til 31 Decem­ber 2019. The Sand­box...
16 July 2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Data Pro­tec­tion The European Gen­er­al Data Pro­tec­tion Reg­u­la­tion raises at least two is­sues in par­tic­u­lar in this con­text. First: is pseud­onym­ous in­form­a­tion per­son­al data? Second: how can a “right...
11 July 2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Rem­ed­ies: In Prin­ciple The ori­gin­al Bit­coin White Pa­per stressed the im­port­ance of trans­ac­tions not be­ing re­vers­ible. Ir­re­vers­ib­il­ity is a func­tion of Bit­coin, de­lib­er­ately de­signed to re­duce trans­ac­tion...
08 July 2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Jur­is­dic­tion­al is­sues Many com­ment­at­ors note that true de­cent­ral­isa­tion im­plies that en­force­ment of ob­lig­a­tions must be ef­fected through the sys­tem. A per­mis­sioned sys­tem may in­clude con­ven­tion­al gov­ern­ing...
03 July 2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Leg­al Per­son­al­ity De­term­in­ing wheth­er a sys­tem has leg­al per­son­al­ity has im­plic­a­tions for many of the ques­tions con­sidered in re­la­tion to this top­ic. In 'Ho­ri­zon Scan­ning — Block­chain: The Leg­al Im­plic­a­tions...
02 July 2019
Crowd­fund­ing: The Coun­cil for the EU pub­lishes the next step to­wards an...
On 26 June 2019, the Coun­cil for the European Uni­on pub­lished a com­prom­ise pro­pos­al in re­la­tion to the European Com­mis­sion’s draft frame­work to reg­u­late crowd­fund­ing plat­forms in the EU (the "Crowd­fund­ing...
26 April 2019
CMS Ex­pert Guide to STO reg­u­la­tion and law
Se­cur­ity Token Of­fer­ings (STOs) are a new means for com­pan­ies to emit se­cur­it­ies. The idea is to sell a vir­tu­al, block­chain-based token which is unique and trans­fer­able, and which rep­res­ents, for ex­ample...
02 April 2019
Crowd­fund­ing: European Par­lia­ment steps up in­vestor pro­tec­tion in its amend­ments...
On 27 March 2019 the European Par­lia­ment ad­op­ted its po­s­i­tion on the Com­mis­sion's pro­pos­als for com­mon rules for crowd­fund­ing plat­forms across Europe. The Com­mis­sion pub­lished the ori­gin­al draft reg­u­la­tion...
18 March 2019
BIS pub­lishes up­dates on its think­ing on crypto-as­sets and CB­DCs
Re­cently the Bank for In­ter­na­tion­al Set­tle­ment (“BIS”) pub­lished two new up­dates re­lat­ing to Fintech and crypto-as­sets: a state­ment on crypto-as­sets and the pruden­tial meas­ures firms...
12 March 2019
FCA pub­lishes res­ults of its re­search in­to con­sumer at­ti­tudes to and aware­ness...
On 7 March 2019 the FCA pub­lished the res­ults of its re­search in­to con­sumer at­ti­tudes to and aware­ness of crypto-as­sets. The reg­u­lat­or had com­mis­sioned two pieces of re­search to un­der­stand both at­ti­tudes...