Financial Services Financial Services

Comment: EU banking cloud rules see digital and financial regulatory cultures collide

By Jack Schickler and Matthew Newman
  • 05 Feb 2021 11:22
  • 10 Feb 2021 08:52
EU plans to regulate banks’ cloud computing have brought the traditionally borderless digital industry into the realm of resolutely territorial financial-sector regulation, with the outcome still to be determined by policymakers.

Industry complaints of over-ambitious scope, duplicate reporting, and a de facto requirement to site business in Europe have found som

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Matthew Newman

Chief Correspondent

Matthew Newman is a chief correspondent for MLex and writes about data protection, privacy, telecoms, cyber security and artificial intelligence. Matthew began his journalism career in 1991 in community newspapers. He worked as a reporter in Riga, Latvia in 1993 and then moved to Chicago where he covered local news. In 1995, he became a personal finance reporter for Dow Jones Newswires, and was then transferred to Brussels in 1999. He specialized in EU regulatory affairs, including trade and telecom issues. He began covering competition for Bloomberg News as an EU court reporter in 2004. In 2010, he was named spokesman for Viviane Reding, the EU’s justice commissioner. In January 2012, he helped launch the commission’s proposal to overall data protection rules.

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