6th Foundational training week – II cycle

Dates

04/12/2023 - 07/12/2023

Location

Florence

Level

Foundational training

Delivery mode

Residential

Course materials (registered participants only)

The Second-year edition of the foundational course of the EU Supervisory Digital Finance Academy (“the Academy”) provides participants with fundamental knowledge of the main areas of digital finance, as well as the essential practical skills to enable effective supervision of the application of digital technologies in finance by credit and financial institutions and supervisors’ use of technology (SupTech). The course – the cornerstone of the Academy – aims to enhance the supervisory convergence across the internal market while supporting the transition toward a competitive, digital EU financial sector.

The structure of the foundational training course rests on three building blocks. First, the sessions focus on technological advances and the development of new business models driven by the use of new technology in financial products and services. These sessions explore the main technologies in digital finance, including AI, Big Data, and Distributed Ledger Technology (DLT). They focus on the challenges and risks stemming from the use of these technologies in the markets, as well as on the new opportunities, in particular from a consumer perspective (choice and convenience), and their application in RegTech and SupTech solutions. Second, the sessions comprise the policy block, they follow the most recent regulatory response at the EU level, and introduce the new regulatory instruments implementing the European Digital Finance Strategy, including the regulation of markets in crypto-assets (MiCA) and digital operational resilience (DORA), as well as guidelines published by the ESAs and delegated acts. These sessions include a discussion on regulatory and supervisory responses and the implications of the evolving regulatory framework on supervision. Third, the practical block bridges and complements the knowledge and understanding of the new technology and regulatory and supervisory responses, to equip participants with a set of practical skills for the supervision of digital finance in Europe by means of case studies and other practical exercises. The practical block will provide supervisors with the necessary skillset for operating within the new supervisory and oversight frameworks in digital finance.

The structure of the foundational training course follows a holistic and cross-sectoral approach covering financial institutions (including credit, insurance, and securities sectors) to ensure the learning journey is in line with the objectives of the Academy.
The programme is ideated and designed in cooperation with the European Supervisory Authorities (ESAs) and the European Commission (DG REFORM and DG FISMA)

Session 1: Introduction. Concepts, actors, business models, macro trends – a global perspective
Session 2: Big Data, Artificial Intelligence (AI), including Machine Learning (ML) and AI act.
Session 3: Digitalisation and consumer protection issues
Session 4: Group activity on technology-driven innovation in finance and business models (comparative case studies)
Session 5: Cybersecurity
Session 6: Digital operational resilience (DORA)
Session 7: Group activity on a cyber risk framework for the financial sector
Session 8: Outside of the EU sharing NCAs experience
Session 9: Blockchain
Session 10: DeFi and tokenisation
Session 11: Markets in Crypto-assets (MiCAR)
Session 12: Group activity on MICAR use cases and applications in supervisory practice
Session 13: NCAs sharing best practices
Session 14: Group activity on regulatory sandboxes
Session 15: Envisioning the future: cross-sectoral trends and priorities in digital finance

Residential training weeks will take place within the premises of the European University Institute.

Participants are responsible for arranging both their travel and accommodation for the residential weeks in Florence.
FBF will reimburse the cost of their travel up to a given ceiling (economy class for flights on dates close to the event – max two days before and after the course) and a total of EUR 100 for taxis. Participants will also receive a daily allowance to cover accommodation expenses, up to a certain limit and for a maximum of 4 nights (with check-in on Sunday and check-out on Thursday).
Reimbursements will be processed after the training has ended and will require presentation of relevant invoices and receipts.
To help participants travel to and from the event venue, FBF will provide a private shuttle bus from/to the city center every day.
FBF will also provide light lunches and coffee breaks during the training days and one or two evening social activities per week.