13 September 2019
A report to the European Commission will recommend creating a true single European market for SCF techniques such as factoring. Both the licensing of market players as the legal basis for the assignment of receivables will be in the scope of these recommendations.
The European Commission FISMA together with advisors VVA and Aite Group organized on 12th of September a final workshop in Brussels to explore market and regulatory barriers for Supply Chain Finance. SCF is defined according to the Standard Definitions for techniques of Suppy Chain Finance and includes 9 different product lines, all related to working capital/supply chain financing (one of them being Factoring).
World of Open Account, represented by Erik Timmermans participated in the workshop to share insights and experience together with a broad group of industry associations, Banks, Non-Bank Financial Institutions and Corporates.
Enrico Camerinelli and Charles Bryant moderated a highly interactive discussion.
Harmonizing the regulatory and legal environment for receivables finance activities such as factoring in the EU would indeed remove many barriers and create an improved business environment leading to better access to finance for SMEs. As one of the industry stakeholders, WOA offered to support such process of harmonization.