Petition addressed to: Petitionsausschuss des Europäischen Parlaments

The petitioner states that, since August 2019, the British fintech firm Revolut Ltd. has launched a trading service that allows users to buy or sell popular US stocks and “fractional shares.” The petitioner claims that neither Revolut Ltd. nor DriveWealth LLC, the US company that will execute the trades, have obtained securities licenses to offer financial services in Romania. The petitioner raises concerns regarding investor protection and unfair competition at EU level, given that, unlike “lightly-regulated fintech companies,” traditional securities brokers have to observe a heavy regulatory system.