European Commission launched the “EU Supervisory Digital Finance Academy (EU-SDFA)”, a project financed by the Technical Support Instrument (TSI). The project helps financial supervisory authorities to seize the opportunities and cope with the risks related to the use of advanced technologies in the financial sector. The project will ultimately improve the stability of the digital financial sector and increase consumer protection by establishing the first EU-wide, cross-sectoral academy for financial sector supervisors. The academy will include 26 national financial supervisory authorities from 20 Member States that have requested the Commission's support. The project will be implemented via three-year training programmes, exchange of good practices and thematic workshops to let participants acquire new skills and tools on digital finance. This project will also contribute to better understanding supervisory needs and to identifying risks and challenges in innovative digital finance. It will last until October 2025. The TSI offers expertise to all Member States for the implementation of growth-enhancing reforms. The support offered by the Commission is based on request and is tailor-made for the beneficiary Member State. Since 2017, the Structural Reform Support Programme and the TSI have been supporting over 1,400 reform projects in all Member States.
Source: European Commission