• Ex-post evaluations/fitness checks of existing legislation
This new proposal does not rely on any existing legislation. It builds on the open banking regime set up in Directive (EU) 2015/2366 but creates a new data access right for sets of data not previously covered by any other EU legislative framework.
• Stakeholder consultations
On 10 May 2022, the European Commission launched a call for evidence on financial data access. The call for evidence closed on 2 August 2022, gathering 79 responses. Persons responding in individual capacity expressed concerns about data sharing in the absence of a framework adopting clear safeguards, such as privacy dashboards, clear delineation of its scope and a level playing field among market participants. Firms were rather positive as long as proper safeguards were put in place. The call for evidence showed that if properly designed, access to financial data could have a positive impact.
On 10 May 2022, the European Commission also launched a jo
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