Lawmakers should not yet intervene on big data – European agencies

Any “legislative intervention” by Europe’s lawmakers to limit the use of big data by financial institutions would be “premature”, a joint report from the three European supervisory agencies (ESAs) says.

Current legislation on data protection, cyber security and financial consumer protection already provides “an already quite solid framework to mitigate the risks” stemming from financial institutions’ use of big data, the report says.

The report, from the European Banking Authority, the