Over the past few days, the European Union’s co-legislators have been examining a European Commission working document summarising recommendations for how to simplify the proposed Financial Data Access (FiDA) legislative regulation (see EUROPE 13211/15).
At the European Parliament, the rapporteurs for the various political groups thus met with European Commission representatives late afternoon on Tuesday, 3 June.
At the Council of the EU, experts from EU Member States had studied the document last Tuesday, 27 May.
Another round of interinstitutional negotiations (‘trilogue’) has been scheduled for Tuesday, 17 June.
The ‘FiDA’ legislative proposal aims to establish a single, harmonised framework for access to financial data in the EU—beyond the payment data already covered by the ‘PSD2’, a directive that has been in force since 2018. The ‘FiDA’ framework would expand open access to data by including savings, investments, insurance, and pensions, which are currently still subject to separate sectoral rules such as ‘MiFID II’ and ‘Solvency II’. (Original version in French by Bernard Denuit)