The BIIA Regulatory Newsletter October 2022 (66th) Edition is posted on this website.  To download the document, please click on this link:  BIIA Monthly Regulatory Newsletter October 2022 (66th) Edition


Welcome to the 66th monthly newsletter designed to keep BIIA members informed of the significant developments on the policy dossiers being worked on in geographical territories that members operate in.

BIIA would like to thank its fellow industry association, ACCIS, for allowing us to re-use certain information that they have published on regulatory developments within Europe. 

SUMMARY

In this months newsletter we cover a wide variety of issues including open data, digitalisation, new technology (AI) and privacy with regulators busy trying to keep pace with the fast changing incresingly digital world we are living in. With the rapid growing interest in ESG we have also introduced this month a section that provides a round up on ESG regulation in Europe, UK and the rest of the world.

Finally we report on the 28th Plenarty meeting of the International Committee on Credit Reporting (ICCR), the standard setting body for credit reporting and business information industries. BIIA has been an active member of the Committee since it was founded and works with the Committee to raise industry issues highlighted by our own research and by members.

Recent publications by the ICCR:

  • Key Principles for Effective Regulation and Supervision of Credit Reporting Service Providers,
  • Cross border credit reporting
  • RESPONSIBLE USE OF TECHNOLOGY IN CREDIT REPORTING

We are keen to ensure that we cover as many relevant regulatory developments as we can in this newsletter so if you have any items you feel would be worth incorporating please do get in contact with Neil Munroe, Deputy Managing Director and Editor of the Regulatory Newsletter by email @ munroen@biia.com.

Credit Reporting

  • International Committee on Credit Reporting (ICCR) Plenary Meeting
  • USA – Consumer Financial Protection Bureau (CFPB) takes action to address junk data in credit reports

Privacy

  • Australia – Tougher penalties for serious data breaches
  • European Union – European Data Protection Board (EDPB) publishes updated guidelines on personal data breach notifications and identifying the lead supervisory authority
  • USA – Biden Administration issues Executive Order for Privacy Shield

Financial Services

  • European Union – 2023 European Commission’s Work Programme
  • UK – Financial Conduct Authority (FCA) to review “Big Tech”
  • USA – CFPB kicks off personal financial data rights rulemaking

Artificial Intelligence

  • USA – White House announces Artificial Intelligence Bill of Rights

ESG

  • ESG Regulation Monthly Round –Up

More information on the latest regulatory developments from across the globe is available on the BIIA website in the Regulatory section         


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To Request Permission to Publish Contact:  Neil Munroe at munroen@biia.com