Canada    FinTech Guide    Chapter 14    Serbia


14. RegTech
Serbia  Serbia


Legal Affairs


In accordance with the Decision on minimum requirements for the information systems management in financial institutions (“Official Gazette of the Republic of Serbia” nos. 23/2013, 113/2013 and 2/2017), a financial institution is obliged to maintain its information systems in order to provide efficient operations. Maintaining of the information systems is obligation of the financial institution which may be outsourced to other legal entity after the prior notification of the NBS. The financial institution should conduct detailed analysis of the potential service provider to which the information system services will be outsourced, potential costs, and should provide continuous operations, risk management, etc.



Economic Conditions


There is no market for RegTech-services – these services may be provided only by the financial institution itself, and exceptionally by an entity to which they are outsourced.



Miscellaneous


Further regulation and market expansion in this area is expected.



Contributing Authors

Karanovic & Nikolic

Marko Ketler
Belgrade, Serbia

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Chapter Index:


1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

Disclaimer:
The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 August 2019