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This revision is meant to implement internationally agreed Common Reporting Standards (CRS) in the European Union.
Last month, the Article 29 Working Party (WP29), which brings together representatives of data protection authorities of the European Union, sent a letter to G20 Presidency, the OECD, the European Commission and the President of the European Parliament, to provide them with preliminary remarks on a number of critical data protection issues raised after the CRS was approved by the OECD Council on 15 July and G20 Finance Ministers on 21 September. The opinion of WP29 needs to be considered before a decision is made on implementation of CRS.
European banks support the view that there is a need to further examine the potential impact that the...
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