Welcome to the thirty second 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 Newsletter 070519 (003)

BIIA would like to thank its fellow industry association, ACCIS (the Association of Consumer Credit Information Suppliers), for allowing us to re-use information that they have published on the regulatory developments within Europe.    

SUMMARY

Activity on data privacy has continued at a pace in April, with work in Brussels by the European Data Protection Board (EDPB) as well as in a number of member states. As predicted at the end of last year we are now also seeing increased activity on the use of new technology, such as block chain and AI, as regulators and industry continue to attempt to understand and try to define how these new technologies should be used. 

Outside Europe, we have seen another ‘ripple impact’ of GDPR with the Australian Government introducing major changes to the Privacy Act, including significant penalties for breach of the law. For readers information, data privacy and the GDPR ‘ripple impact’ will be one of the key items covered in the Regulatory Roundtable that BIIA is hosting in Bangkok on October 30th, prior to the 2019 conference. For more details on the Roundtable and the Conference click here

In this edition you will find commentary on the following topics:

PRIVACY 

  • GDPR fine – Concept of disproportionate effort
  • Polish Banking Law and GDPR
  • EDPB on ‘contractual necessity’
  • ICO’s Sandbox programme now open for applications

FINANCIAL SERVICES

  • Financial services users on consumer credit
  • Final agreement on revised rules for EU Financial Supervision

DATA

  • Update on AnaCredit
  • UK’s FCA Credit Information Market Study

TECHNOLOGY

  • Ethics guidelines on AI
  • European Forum for Innovation Facilitators
  • Blockchain – Launch of INATBA
  • AI can unlock SMEs’ potential

REST OF THE WORLD

  • International Committee on Credit Reporting (ICCR)
  • Australian Government announces major changes to their Privacy Law

REGULATORY AFFAIRS FORUM

We are currently in the process of arranging the next Regulatory Affairs Forum meeting, which we hope to hold before the end of May via conference call. Should any member be interested in participating in the next meeting, please provide the contact details for the person in your organisation who would like to participate to Neil Munroe, Deputy Managing Director – neilm@crsinsights.com

Copyright © BIIA 2019 – For Member Internal Use Only –  To Request Permission to Publish Contact:  Neil Munroe at neilm@crsinsights.com