EDPS Publishes Guidelines On Data Protection In EU Financial Services Regulation

The European Data Protection Supervisor published ‘Guidelines on data protection in EU financial services regulation’ (Guidelines) to be used as a “practical toolkit for ensuring that EU data protection rules are integrated when developing EU financial policies and rules.”

The Guidelines address the processing of personal information involved in supervising financial markets, particularly through the use of surveillance, record keeping, and reporting, and information exchange. Such measures have the potential to infringe on individuals’ rights to privacy and data protection.

The Guidelines include 10 steps and recommendations to assist EU policy makers responsible for financial regulation. Some of the key recommendations include: