Overview of Emerging Data Governance Structures Prepared for ABAC - - PowerPoint PPT Presentation
Overview of Emerging Data Governance Structures Prepared for ABAC Patrick Walker 20 June 2018 CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of PERC is strictly prohibited Contents Context EU ANA
Patrick Walker 20 June 2018
Prepared for ABAC
CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of PERC is strictly prohibited
Privileged & Confidential |
– ANA Credit – GDPR – PDS2
– ODI – Data privacy/security (new framework)
– CBPRs
– Take-away for APEC
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Privileged & Confidential |
– Render obsolete existing regs
– PCRs exposed as inadequate
– Caused international furor
– Data security in regulators cross-hairs
– Elevated data privacy as policy issue
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Privileged & Confidential |
3
Market failures abound in data. Expect more government support for open access.
Privileged & Confidential |
– ODI – Data privacy/security (new framework)
– CBPRs
– Take-away for APEC
4
Privileged & Confidential |
– Detailed info on bank loans across EU – Harmonized across member states
framework – Aims to improve data quality and reduce reporting
burden
– For monetary policy analysis and operations, financial
stability surveillance, risk management.
▪ Commercial credit data only.
– Much more granular view (loans 25k Euros and up) – Begins Sept 2018 in full force 2020.
5
Seeks to enhance NCBs risk data aggregation capabilities and risk reporting practices.
Privileged & Confidential |
General Data Protection Regulation (GDPR)
– Extra-territorial owing to adequacy requirement – Creates foundation for single digital market – Create an even playing field for controllers ▫ One stop shop ▫ Same rules in every country ▫ Data Protection Board that would force harmony
– Agencies lack authorizing laws, funding, capacity, skills – Companies do not have policies to comply, skills – Individuals do not understand new rights – Effective May 25th after two years of preparations
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Data protection is broader than privacy— right for data to yield long and healthier life
Privileged & Confidential |
authentication requirements
and supervise them.
antipathy toward banks
7
Open Banking Initiative expands logic of PSD2 to broader set of data and players.
Privileged & Confidential |
– ANA Credit – GDPR – PDS2
– CBPRs
– Take-away for APEC
8
Privileged & Confidential |
data.
9
Banks opening up access but picking winners—compromise solution.
Privileged & Confidential |
– ANA Credit – GDPR – PDS2
– ODI
– Take-away for APEC
10
Privileged & Confidential |
commerce – Single framework for exchange of personal information – Currently 5 member economies participating (Canada,
Japan, Republic of Korea, Mexico, United States)
expanding application of CBPRs – EU Binding Corporate Rules/CBPRs common
referential established
– CPBR being considered as certification under EU
GDPR
11
Barriers to data flows being removed within and among advanced economies.
Privileged & Confidential |
– ANA Credit – GDPR – PDS2
– ODI
– CBPRs
12
Privileged & Confidential |
coming down.
13
Must prioritize data strategy—using internal and external resources