Osborne Clarke: Summary of FIDA Negotiations
Digital Invest Germany member Osborne Clarke has published an update on recent developments in the negotiations on the Financial Data Access Regulation (FIDA). The update highlights a new questionnaire issued to EU Member States as part of the ongoing legislative process.
Originally proposed by the European Commission in June 2023, FIDA aims to establish a harmonised framework for access to financial data across the EU. The regulation is intended to enable consumers to control and share their financial data more effectively, while allowing third-party providers to build innovative, data-driven services.
The initiative reflects broader efforts to strengthen consumer protection and promote competition and innovation in financial markets. As negotiations progress, developments such as the Member State questionnaire provide further insight into how the framework may be implemented in practice.
