Session Recap: To read the key takeaways from this session, please click here.
Where: Virtual event
When: Sept. 8, 2021
Overview: In the sixth installment of the Institute of International Finance’s DataTalk series, an interactive monthly forum bringing together experts from IIF member firms, leading tech firms, and other partners and officials, participants discussed key issues around regulation of the digital economy.
The discussion highlighted how pressure to tighten digital regulation poses special challenges for financial institutions, which already operate under some of the most-stringent rules in the global economy. Participants explained that 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, they contended, 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 series includes three leading global experts as co-chairs:
Douglas Elliott, Partner, Oliver Wyman
Jennifer Stott, Chief Data Officer, Royal Bank of Canada
Tom Wilson, Chief Executive Officer, Allianz Ayudhya