Financial sector policymakers are increasingly focused on data rights, touching on such questions as: who owns financial data, what rights do various parties have to use that data and in which ways, and what privacy rights do individuals have.
The financial sector is being transformed by changes fueled by a huge growth in the volume of data and the sophistication of analytical techniques applied to that data. In parallel, the public and their political representatives and associated regulatory authorities, have begun to realize that the public policy infrastructure of laws, regulations, and oversight approaches has not kept pace with this transformation. We collectively need to rethink public policy in regard to data rights and obligations. This primer has hopefully helped lay out the questions. We are committed at Oliver Wyman to help the public and private sectors find appropriate answers.