Dear Members,

In this month’s newsletter, the first for 2019, we continue to see GDPR and the use of Artificial Intelligence (AI) and new technology such as block chain as the main areas of focus, something we predicted would be the case at the end of last year.  The largest GDPR fine, issued to Google earlier this month, shows that data privacy authorities across Europe are intent on making sure organisations understand the importance of privacy. There is no doubt further fines of such magnitude will be forthcoming.

We also report in this newsletter developments following the issuing of the Payment Services Directive 2 (PSD2) with regulators promoting the Directive as a way of increasing competition in the financial services sector. The granting of licences to Google in two countries in Europe is confirmation that there will be some interesting technology ‘heavy weights’ entering the sector going forward.

As readers may already be aware from the BIIA website and a recent email, BIIA is looking to expand the support it offers members in the area of regulatory affairs and as a first step we will be creating a Regulatory Affairs Forum to facilitate the sharing of information on regulatory developments and to discuss how our Association might be able to support members in influencing policymakers and regulators.

Members of the current Regulatory Committee have already agreed to participate in the Forum. We are also keen for other members to participate in the Forum, particularly from the Middle East and Asia, to ensure we build a complete picture of regulatory developments.

Should you be interested in joining the Forum please provide the contact details for the person in your organisation who will be participating to Neil Munroe, Deputy Managing Director – neilm@crsinsights.com

In this regulatory newsletter you will find additional topics:

IN EUROPE

  • Accreditation of GDPR Certification Bodies
  • EU –US Privacy Shield
  • Largest GDPR fine

FINANCIAL SERVICES

  • Creditworthiness assessments in microfinance
  • Consumer Credit Directive
  • Impact of Open Banking on retail banking business models in the UK
  • New payment services provider on the block

DATA

  • Regulatory sandboxes on data
  • SME Information
  • Update on AnaCredit
  • Public Sector Information

TECHNOLOGY

  • Artificial Intelligence
  • State of the Art Report on AI
  • Innovation Facilitators

THE REST OF THE WORLD

  • Cutting CRAs out?
  • India’s Data Protection Bill Will Now Be Tabled In June

To download the Regulatory Newsletter click here: BIIA Monthly EU Regulatory Newletter 310119

Copyright © BIIA 2018 – For Member Internal Use Only – To Request Permission to Publish Contact: Neil Munroe at neilm@crsinsights.com Business Information Industry Association Asia Pacific – Middle East Ltd. Suite 4114 Hong Kong Plaza, 188 Connaught Road West, Hong Kong Telephone: +852 2525 6120; Fax: +852 2525 6171; E-mail: biiainfoasia@gmail.com; Home Page: www.biia.com