Page 27 - May 2018 Disruption Report Flip Book

REGULATORY MOAT JANMUAAYRY20128018
product than the banks offer. PSD2 also offer banks with modern architecture the opportunity to exploit PSD2.
In the end, we think the question for banks arises as to whether or not it is more cost efficient to comply with these and future regulations with a more advanced core banking system. It also raises questions as to how these and future regulations change the nature of competition in the banking industry, and whether or not these regulations place banks with legacy systems at a competitive disadvantage. (Bank of the Future, Citi GPS, March 2018)
RISING MONETIZATION & DATA COLLECTION DRIVES REGULTORY
...Rising Monetization + Data Collection =
SCRUTINY
Drives Regulatory Scrutiny
Data / Privacy Competition
Safety / Content Taxes
The European Data Protection Regulation will be applicable as of May 25th, 2018 in all member states to harmonize data privacy laws across Europe.
- European Union, 5/18
Facebook’s collection & use of data from third-party sources is abusive.
- German Federal Cartel Office, 12/17
Commission fines Google €2.42 billion for abusing dominance as search engine by giving illegal advantage to its own comparison shopping service.
- European Commission, 6/17 Commission approves acquisition of LinkedIn by
Microsoft, subject to conditions.
- European Commission, 12/16
The Germany Network Enforcement Act will require for-profit social networks with >2MM registered users in Germany to remove unlawful content within 24 hours of receiving a complaint.
- German Federal Ministry of Justice & Consumer Protection, 10/17
Commission finds Luxembourg gave illegal tax benefits to Amazon worth around €250 million.
- European Commission, 10/17
Source: European Union (5/18), European Commission (6/17, 10/17, 12/16), Bundeskartellmt (German Competition Authority (12/17). German Federal Ministry of Justice and Consumer Protection (10/17).
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