Data governance and regulatory compliance has always been included in risk assessments, especially in industries where there is sensitive data or products that need to meet certain safety specifications or where minimum health standards need to be met.
The EU’s Payment Services Directive has been in force since September 2019. It introduces data governance regulatory compliance implications for financial institutions such as the introduction of Strong Customer Authentication and secure certificates.
When it comes to data protection, the German regulatory environment is one of the most thorough in the world. This has created a particular obstacle for Germany’s initiative to roll out electric vehicle (EV) charging points across the country. In addition, Germany has over 800 distribution service operators (DSOs) which run its grid.
Germany’s fragmented energy delivery model and the laws and regulations set out by the BDSG (the German Federal Data Protection Act) create a hugely complex data sharing tapestry.
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