Panel Discussion on New Data Sharing Frameworks in the EU

Описание: Panel Discussion on New Data Sharing Frameworks in the EU: How to Deliver on this?

The Financial Data Access Regulation is currently going through the legislative process. This legislation provides the foundation for the establishment of financial data schemes enabling financial data-sharing between data holders and data users – often referred to as Open Finance. Broad in its scope, it also introduces a new licensing regime for financial information service providers. The Regulation foresees no limitations as to the type of data that can or should be shared and does not explicitly link this data transfer to specific use cases. The definition of the customer is deliberately wide. It is also unclear how this data exchange works for entities operating both inside and outside the EU.

Panellists will be exploring some of the following questions: Given the broad nature of data exchange what might be use cases where Schemes might first emerge? Who should be sitting at the table to develop the Schemes? What would the governance arrangements look like? Will all financial institutions be forced to join these Schemes and what would be the remuneration model? What type of data should be shared and how is this compatible with data privacy? Should the adoption take place in stages? How does FIDA fit into the wider EU framework for data sharing under the EU Data Act? What can we learn from the adoption of Open Finance in other parts of the world?

Moderator: Mattias Levin, Deputy Head of Digital Finance Unit, DG FISMA, European Commission

Speakers:

• Simonas Krėpšta, Board Member of the Bank of Lithuania
• Regina Doherty, Member of the European Parliament
• Christopher Schmitz, Partner, EMEIA Open Finance & FinTech Leader, EY
• Coen ter Wal, Head of Technology & Operations, Association for Financial Markets in Europe (AFME)

Afore Consulting, 9th Annual FinTech and Regulation Conference, Tuesday 4 February 2025

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