Overview
The analysis is based on the legislative file 2023/0205(COD), titled "Framework for Financial Data Access" (FIDA). This is an ongoing ordinary legislative procedure (COD) aimed at establishing rules for accessing and sharing customer financial data, situated at the intersection of financial services and digital regulation. The file amends several existing financial sector regulations. The primary source document analysed is the European Parliament committee amendments document (ECON-AM-758858), which details proposed changes to the Commission's original proposal.
Legislative timeline
The procedure began with the Commission's proposal and its referral to the European Parliament's committee on 19 October 2023. The committee report was tabled on 13 December 2023, with amendments tabled on 2 February 2024. The committee adopted its report on 18 April 2024, leading to its tabling in plenary on 30 April 2024. Following a subsequent referral back to committee, the plenary endorsed the committee's mandate to enter into interinstitutional negotiations on 18 December 2024. Two negotiation sessions have since been held, on 1 April 2025 and 17 June 2025. The file remains in the first reading stage.
Institutional handling
The lead European Parliament committee is the Committee on Economic and Monetary Affairs (ECON). On the Commission side, the responsible department is the Directorate-General for Financial Stability, Financial Services and Capital Markets Union (FISMA), under Commissioner Maria Luís Albuquerque. Within the Council of the EU, the dossier is handled by the Economic and Financial Affairs Council configuration (ECOFIN).
Stakeholder reactions
Stakeholder engagement has been active, with 49 documented meetings held between stakeholders and EU policymakers. Of these, 38 were with Members of the European Parliament, 4 with Commissioners, and 7 with European Commission staff. These interactions involved 32 distinct organisations. Among the most frequently engaged stakeholders were The Great Collective AB (Insurely), Apple Inc., Deutsche Bank AG, Finance Watch, and Mifundo. Available position data from meetings indicates that on the topic of anti-money laundering regulation, Dow Jones has expressed a position in favour of a stricter framework by promoting tools for enhanced compliance. On decarbonisation of maritime transport, the Union of Greek Shipowners has raised competitiveness concerns related to the EU Emissions Trading System. On EU competences concerning consumer protection and product standards, Dansk Standard has emphasised the role of national standardisation bodies.
Media coverage
No media coverage data is provided for this file.