European Data Protection Supervisor
European Data Protection Supervisor

Finance & Economy

Finance & Economy

The financial crisis has emphasised the need to harmonise rules on the functioning of financial markets, a crucial source of financing in today´s economy. The EU actively tries to improve, in particular, the accountability of financial institutions and transparency of financial markets, at the same time combatting tax evasion and money laundering. These legitimate policies often require, in practice, the collection, use and storage of large amounts of personal information. Therefore, it is necessary to balance public policy objectives with the fundamental rights to privacy and data protection.

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12/10/2018
12
Oct
2018

EDPS comments on covered bonds and covered bonds public supervision

Formal comments of the EDPS on a proposal for a Directive of the European Parliament and of the Council on the issue of covered bonds and covered bonds public supervision and amending Directive 2009/65/EC and Directive 2014/59/EU

10/09/2018
10
Sep
2018

EDPS comments on facilitating the use of financial information for the prevention of certain criminal offences

Formal comments of the EDPS on the Proposal for a Directive of the European Parliament and of the Council on facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences.

12/04/2018
12
Apr
2018

Screening foreign direct investment into the European Union

Formal comments of the EDPS on the Proposal for a Regulation establishing a framework for screening of foreign direct investments into the European Union.

04/10/2017
4
Oct
2017

Early detection and exclusion system database - EC

Prior check opinion regarding early detection and exclusion system database at the European Commission (Case 2016-0864)

The EDES-DB is the new system established by the Commission to reinforce the protection of the Union's financial interests and to ensure sound financial management. It replaced the Early Warning System and the Central Exclusion Database as of 1 January 2016. The rules governing EDES can now be found in the revised Financial Regulation for the EU institutions. The EDPS recommends establishing an explicit limited retention period for the further uses of the EDES-DB information envisaged in the notification.

05/09/2017
5
Sep
2017

Remuneration policies and credits - ECB

Prior check opinion regarding remuneration policies and credits to senior officials of significant entities supervised by the ECB (Case 2017-0358)

As part of its banking supervision role, the European Central Bank has to assess and approve significant supervised entities’ remuneration policies. This may result in adverse consequences to employees of significant supervised entities, possibly excluding them from rights under their employment contracts.

The ECB also has a role to play concerning loans of significant supervised entities to their own employees, which may also result in refusing loans to them, thus excluding them from a contract.

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12/05/2017
12
May
2017

Newsletter Nr. 51

The May 2017 edition of the EDPS Newsletter covers recently adopted Opinions on data protection and the EU institutions, digital content and the European Travel Information and Authorisation System (ETIAS), as well as many other EDPS activities.

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21/02/2017
21
Feb
2017

Controls on cash entering or leaving the union

EDPS Comments on the Proposed Regulation on controls on cash entering or leaving the union

02/02/2017
2
Feb
2017

Anti-money laundering

EDPS Opinion on a Commission Proposal amending Directive (EU) 2015/849 and Directive 2009/101/EC, Access to beneficial ownership information and data protection implications

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30/09/2016
30
Sep
2016

Data Protection in Financial Technology (FinTech), Insurance, and Medical Services: a New Regulation and Perspectives

The Union Internationale des Avocats (UIA) will hold a two-day seminar on data protection in the FinTech, insurance and medical services sectors. Hosted by the European Court of Justice in Luxembourg, the event is open to both lawyers and non-lawyers and will take place between 30 September and 1 October 2016.

The FinTech, insurance and medical services sectors all face common challenges when dealing with particularly sensitive data. While big data and new technologies have created new opportunities for these sectors, these developments also raise significant data protection concerns. The seminar will explore the challenges of finding a balance between the adoption of these new technologies, the search for competitiveness and the need to protect personal data, and how we can address them. Conclusions will be presented by European Data Protection Supervisor Giovanni Buttarelli alongside Dean Spielmann, a judge at the General Court of the European Union.

More information on the event and how to register can be found in the event programme.

15/09/2016
15
Sep
2016

Data Protection rules in relation to financial services and digital economy

Speech by Giovanni Buttarelli at BBA's Data Protection & Privacy conference

03/06/2016
3
Jun
2016

Transfers of personal data in supervisory activities - ECB

EDPS Decision pursuant to Article 9(7) of Regulation (EC) No 45/2001 concerning the transfers of personal data carried out by the European Central Bank for its supervisory activities (Case 2016-0308)

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18/05/2016
18
May
2016

Antifraud Transit Information System - OLAF

Prior Checking Opinion on Antifraud Transit Information System (ATIS) at the European Anti-Fraud Office (OLAF) (Case 2013-1296)

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16/12/2015
16
Dec
2015

Newsletter Nr. 46

The December 2015 edition of the EDPS Newsletter covers the EDPS Opinions on Big Data and Digital Ethics and many other EDPS activities.

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08/10/2015
8
Oct
2015

Europe’s big data protection opportunity

Keynote address of Giovanni Buttarelli given at the Banking and Payments Federation, Ireland

10/07/2015
10
Jul
2015

Transactional due diligence process - EIF

Opinion on a notification for prior checking receivedfrom the Data Protection Officer of the European Investment Fund (EIF) regarding data processing in the context of the transactional due diligence process (Case 2014-0725)

08/07/2015
8
Jul
2015

EU-Switzerland agreement on the automatic exchange of tax information

Opinion on the EU-Switzerland agreement on the automatic exchange of tax information

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02/07/2015
2
Jul
2015

2014 Annual Report - EU Data Protection Reform: a historic opportunity for Europe

2014 was a year of transition for the EDPS, marked by the delayed selection and appointment of a new Supervisor and Assistant Supervisor. Despite the resulting uncertainty, the EDPS under the calm authority and tireless efforts of Peter Hustinx, whose 10-year tenure as EDPS drew to a close in 2014, continued to make significant progress in mainstreaming data protection in EU policymaking.

Building on this legacy, the EDPS' priorities for 2015, as part of the five year strategy of the dynamic team of new Supervisors, is to help the EU to speak with one voice on data protection to uphold the rights and interests of the individual in our digitalised society. To this end, the adoption of the data protection reform will be a significant milestone for Europe and an important message to the rest of the world.

Full text of the Annual Report:PDF icon
17/06/2015
17
Jun
2015

Exchange of information in the field of taxation

EDPS comments on a proposal for a Council directive amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation

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05/06/2015
5
Jun
2015

Anti-fraud investigations and data protection in the EU

Speech given by Giovanni Buttarelli at the European Anti-Fraud Congress, Brussels

13/05/2015
13
May
2015

Anti-Money Laundering and Financing of Terrorism (AML-CFT) - EIF

Opinion on a notification for prior checking received from the Data Protection Officer of the European Investment Fund (EIF) regarding the processing of personal data in the context of Anti-Money Laundering and Financing of Terrorism (AML-CFT) (Case 2014-0908)

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