Luis Urrutia CorralFrom: International Monetary and Banking Law post COVID-19
Edited By: William Blair, Christos Gortsos, Chiara Zilioli
This chapter examines the current status of the regulation of financial data in the digital era and its challenges to cope with that. It cites underlines that data has become a key element in the new shape of financial and payment services offered to the public. Moreover, financial authorities are challenged with the design and implementation of policies that may achieve their objectives to maintain a safe and efficient financial and payment system that protects consumers. The financial system's current state of affairs across jurisdictions demands clarity on the regulatory requirements that financial and payment providers must observe. On the other hand, the existing regulatory framework precludes traditionally regulated providers from reaching a more efficient operation with services. The chapter provides an overview of the complexities of financial data in the international landscape.