The Hungarian Presidency of the Council of the European Union is seeking to finalise compromise amendments between the Member States concerning the ‘FiDA’ regulation.
Proposed by the European Commission at the end of June 2023 (see EUROPE 13211/15), this regulation aims to establish a regulatory framework for the access, use and re-use of customer data in financial services.
According to a draft compromise dated 24 November, a copy of which Agence Europe has obtained, several points on which there was no consensus last August (see EUROPE 13470/7) have been clarified by the Presidency.
These include: - consideration of “raw data” as customer data; - the situation in which several parties are involved in a given financial product or service; - the definition of “consumer” in the context of occupational and personal pensions; - regulations concerning financial information service providers based outside the EU (‘third country FISPs’).
See the draft compromise: https://aeur.eu/f/ehj (Original version in French by Bernard Denuit)