Securities Association Announces FinTech Guidelines

Following up on concerns from federal agencies that data-collection practices from financial firms involving new technology may put consumer information and privacy at risk, the Securities Industry and Financial Markets Association (SIFMA) has announced its own guidelines. Data Aggregation Principles is a brief set of recommendations designed to help financial firms provide customers with secure access to their financial information, while maintaining the security and integrity of their members’ systems. The guidelines, which address issues regarding sharing customer information with third parties, customer consent, and data protection, were created by a working group of approximately 30 representatives of SIFMA members.

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