La regolazione del FinTech tra innovazione, esigenze di tutela e level-playing field: l’inesplorato caso dell’invoice trading

Among FinTech activities, invoice trading – i.e. the advance payment of invoices (and purchase of the corresponding credit) by investors in favour of entrepreneurs through an online platform – has not received much attention from academics or regulators yet. The paper, after a preliminary description of the prevailing business models adopted by invoice trading platforms in Italy, aims at exploring the main issues related to the legal qualification of such activity and providers as well as at assessing whether the Italian regulatory response appears adequate or requires instead revisions and adaptations.