The latest session of the IIF’s DataTalk forum, our interactive discussion forum with knowledge partner the Oliver Wyman Forum, focused on digital regulation. This note provides a brief summary of the key themes that emerged, noting that the conversation was conducted under the Chatham House rule, and comments are unattributed.

The growing pressure to tighten regulation of the digital economy poses special challenges for financial institutions, which already operate under some of the most-stringent rules in the global economy. The vertical nature of most existing regulation, which applies to specific sectors, doesn’t adapt readily to data that flows across industries and geographic borders. Policymakers would do well to focus on developing proportional regulation based on principles rather than detailed rules that recognize the global nature of data, seek to avoid market fragmentation, and promote safety without stifling innovation and growth.

The DataTalk series continues in October where we will discuss Data Literacy. For more information on this forum, please contact [email protected].