Dear Members,

Welcome to the twenty fifth monthly newsletter designed to keep BIIA members informed of the significant developments on the policy dossiers being worked on in Europe and in other geographical territories.  To download the document, please click on this link: BIIA Monthly EU Regulatory Newletter 300718


This month has seen another busy month in Brussels and across Europe as regulators and policy makers attempt to ‘clear their desks’ before going on their traditional August breaks.

We have seen a number of financial services initiatives announced this month, with the launch of the review of the Consumer Credit Directive, work on updating the European code of good conduct for microcredit provision, a study by the European Parliament on miss-selling of consumer credit products and the publishing by the European Parliament’s Committee on Economic and Monetary Affairs (ECON) of a study on competition issues in FinTech.

On data privacy we have seen the adoption by the Hungarian Parliament of the law implementing the GDPR and the new GDPR regulatory authority (the European Data Protection Board) issuing an opinion on the process for individuals giving and withdrawing consent in the context of the new world of open data enabled by PSD2.

Further afield in India we saw at the end of the month the release of the must awaited and much anticipated report of the Justice BN Srikrishna Committee on the Data Protection Law on Friday 27th July. Like a number of countries in Asia the Committee has recommended the adoption of a number of principles used in the GDPR.

We would like to advise our readers that due to the holiday season in the Northern hemisphere the next newsletter will be published at the end of September. For those of you planning a vacation we wish you a pleasant and relaxing holiday.

Best regards

Neil Munroe, Deputy Managing Director
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