
FSB on the Catch 22 of data gaps
The Financial Stability Board (FSB) recently published a report on fintech and market structure in the Covid-19 pandemic.
The Financial Stability Board (FSB) recently published a report on fintech and market structure in the Covid-19 pandemic.
We see the ongoing development of the European Single Access Point (ESAP) as excellent news. It will make it easy to access digital financial and sustainability data disclosures – and potentially other kinds of data too – from across the EU, via a single portal.
The Securities and Exchange Board of India (SEBI) has published a notable circular making clear its approach to securities market data access and terms of use, following a review by its Market Data Advisory Committee.
The European Commission has proposed a new Data Act addressing who can use and access data generated in the EU across all economic sectors.
“In a world that runs on data, good quality data is also the essential ingredient to effective risk analysis,” says Verena Ross, Chair of the European Securities and Markets Authority (ESMA) – and we would certainly agree.
Last year, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) outlined the need for a new initiative to continue the work of addressing data gaps, following the end of the G20 Data Gaps Initiative (DGI).
The Australian Prudential Regulation Authority (APRA) has launched a consultation on plans to “sharply expand the breadth and granularity of the superannuation data it publishes” – ‘superannuation’ being Australian lingo for compulsory employee pensions.
From 1 March 2022, all Global Legal Entity Identifier Foundation (GLEIF) services will accept and display data in updated Common Data File (CDF) formats, requiring users to implement these file formats by that date for uninterrupted access to LEI data.
The evolving use of data in anti-money laundering and countering the financing of terrorism (AML/CFT), and the potential synergies with prudential information and regulations, looks like an interesting area to watch – and that’s particularly true in Europe at the moment.
Are you following the long-term initiative to transform data collection from the UK financial sector being led by the Bank of England and the Financial Conduct Authority (FCA)?