Transcription of Joint Committee Final Report on Big Data - …
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Joint Committee Final Report on Big Data - …
JC/2018/04. 15 March 2018. Joint Committee Final Report on Big Data 1. Contents 1. Overview .. 4. 2. Contents .. 4. 3. Executive summary .. 6. 4. Feedback statement .. 8. A. Description of the Big Data phenomenon .. 8. B. Level playing field and fair competition .. 9. C. Impact of Big Data on financial inclusion, comparability and pricing practices .. 11. D. Potential shortcomings in the transparency of Big Data tools .. 14. E. Accuracy of data - Fair and transparent use of data collected .. 14. F. Cyber risks .. 15. G. Potential systemic risks .. 17. H. Role of regulators/supervisory authorities .. 17. I. General comments on potential benefits and risks .. 18.
4 1. Overview 1. One of the tasks of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and
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