As predicted in our 2016 year-end report, 2017 proved to be a busy year for Fintech in Canada, with a number of important regulatory developments. With the dawn of 2018, we look back to summarize some of 2017’s most notable Fintech regulatory developments in Canada, as well as developments to watch for in 2018.… Continue Reading
In March 2017, the European Commission issued a public consultation document on Fintech. The goal of the European Commission (EC) document is to further the objective of a digital single market within Europe. This will be done by supporting the development of digital infrastructure, improving access to goods and services, and ensuring rules foster technological development.
The European Banking Authority (EBA) published its response to the public consultation in June 2017. The EBA response is significant because it sheds light on how European banks are approaching the areas of artificial intelligence, roboadvisors, crowdfunding, and big data. Institutions in other countries, … Continue Reading
Last month, in a bombshell decision, the European Union’s Court of Justice (“CJEU”) demanded that Google “forget” certain items. The demand resulted from a CJEU decision that individuals have a right to request that a search engine remove certain webpage links from the search results of a search including the individual’s name. The ruling is, for all intents and purposes, final.
In short, the CJEU decided that Google Inc. is subject to the EU Data Protection Directive 94/46 (“Direction”), even though its servers were located outside the EU. As a result, Google was a data processor and data controller within … Continue Reading