EU Gives Go-Ahead for Data Swap by Market Regulators
Plans for an administrative arrangement that would see regulators from around the world come together to share data in order to tackle market abuse has received approval from the European Union.
It has been confirmed that the plan, which was drafted by the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO), meets the European Data Protection Board (EDPB) standards for protecting personal data. The EDPB confirmed that provisions within the agreement “ensure appropriate safeguards when personal data will be transferred.”
The agreement awaits final approval from regulators at a national level.