BIIA attended a recent meeting organized by the IDB – Inter-American Development Bank on “Credit Reporting in the Americas: The current state of the industry and its regulations”.  

At the IDB conference Neil Munroe, president of ACCIS and BIIA’s deputy managing director, provided an overview of the EU’s regulatory approaches to innovation.  Neil Munroe covered the following topics:

EU policy and regulatory priorities:

  • Data Protection and data related issues
  • Digitization and Innovation
  • Revamping of EU financial services regulations

EU policy initiatives:

  • An entire range of EU initiatives is focused on innovation in the digital data world
  • EU approach still under development
  • Recent documents attempting to develop the EU response
    • Green Paper on Retail Financial Services
    • Capital Markets Union Action Plan
    • EBA Consultation on the use of consumer data in financial services
    • European Supervisory Authorities consultation on the Use of Big Data by financial institutions

EU work on Fintech

  • Fintech was identified as a priority by the EU commission in 2016
  • Special Fintech task force at the EU Commission
  • EP draft report on Fintech (February 2017)
  • Credit Reporting industry response

Neil Munroe’s presentation can be downloaded here: 2017-03-19 Neil Munroe_Presentation_IDB event_ 14 March 2017