On 18 May 2021, the European Commission published for consultation a roadmap regarding a strategy on supervisory data collection in EU financial services.
The supervisory data strategy will consider a number of co-ordinated sectoral and horizontal measures that will contribute to the overall objective of improving and modernising supervisory data collection, which will likely be implemented over a number of years. The former may include the development of common data templates and provisions to facilitate data sharing, rectifying inconsistent empowerments to the European Supervisory Authorities in defining reporting requirements at the technical level, mandating the reporting of common identifiers, providing or clarifying specific definitions and scope of reporting, and strengthening proportionality in sectoral reporting frameworks. The horizontal measures to be considered will focus on developing a common data dictionary (i.e. a repository of information about the data, including its meaning, relationships to other data, origin, usage, and format), enhancing data sharing and access, and improving the overall design of reporting requirements in EU legislation.
The deadline for comments on the roadmap is 15 June 2021.