Abstract

The FiDA Regulation, a draft of which was published on 28 June 2023, introduces a legal framework for the exchange of financial products and services data between financial sector entities. The obligation to exchange data will apply to specifically designated financial services, such as mortgage credit agreements, savings products or insurance policies other than life or health insurance. It will allow the entity authorised by a customer to access the customer’s financial data held by another financial institution. The article discusses the principles of access to such data, the conditions for data processing by recipients as well as the scope of data transfers between financial sector entities.