EDPS has published Guidelines on Data Protection in EU Financial Services Regulation

On November 25, the European Data Protection Supervisor (EDPS) published guidelines on data protection in EU financial services regulation.

The EDPS aims to ensure that the EU institutions and bodies are aware of data protection requirements and integrate high standards of data protection in all new legislation.

The EDPS notes that much of the information that is required to be gathered by EU legislation relates to legal persons but also notes that there is potential for financial services regulations to interfere with the right of privacy for natural persons.

The EDPS states that the EU legal framework is complex and has prepared for financial services regulation a 10-step methodology which may assist policymakers in anticipating some of the potential difficulties. This methodology is located in section 3 of the Guidelines.  Guidelines.