The EU is investigating whether banks in several countries are preventing the sharing of information that the bank customers have granted; the raids were a preliminary step and the results of the investigation are not yet known; in 2018 banks will be required to give third parties access to account data provided the customers have given consent. Source
The UK has triggered Article 50 and the 27 European Union countries will now begin negotiating with the UK for new terms; Innovate Finance's Lawrence Wintermeyer provides comments on the effects on fintech; says Brexit will make it more challenging for the UK to attract global investment and talent; Wintermeyer also says Brexit could potentially create new opportunities for regtech which will become increasingly important in cross-border activities. Source