EU Markets Abuse Regulation

The Article 29 Working Party published a letter it sent to the European Commission urging it to consider the data protection and privacy issues when adopting the secondary regulations (‘Regulations’) necessary to implement two European Union financial services laws.

These Regulations are required as part of the implementation of the EU Markets in Financial Instruments Directive (‘MiFID’) and the EU Market Abuse Regulation (‘MAR’). According to the Article 29 Working Party, the Regulations (known as delegated acts and implementing measures), do not effectively deal with privacy concerns. The Article 29 Working Party is concerned that key privacy principles such as proportionality and necessity, data retention limitation and transparency, and the future data protection regulation, appear to have been ignored.
Continue Reading Privacy in financial markets, not to be ignored