Financial Matters Subgroup meeting
18 July 2018, Brussels
1. Introduction - Outcomes of the EDPB Plenary
The coordinator welcomed the participants and presented the agenda.
The Coordinator informed the participants of the following outcomes of the July EDPB Plenary:
The letter on PSD2 and the OECD questionnaire prepared by the FMS were adopted by the
For the remaining items a written state of play was provided.
2. Approval of the Agenda
The draft agenda was adopted.
3. Approval of the Minutes
The minutes of the 6 June 2018 conference call were adopted.
4. Future structure and work of the FMS
The Coordinator informed the participants about the outcome of the Coordinators meeting on 15 June
and the FoP meeting on 19 June. During these discussions the following was proposed for the FMS:
Extend the mandate of the FMS to the commercial sector.
To “reactivate” the FMS when an issue arises (e.g. on the proposal of either the Plenary, the
delegations, or in case of requests by external bodies), and follow a more flexible approach in
the definition of the calendar of meetings.
The group agreed that more flexibility of modalities of discussions is needed, in certain cases instead
of a physical meeting a conference call can be an appropriate solution. To facilitate the discussion
during this call, the attendance list will be circulated in advance. As there are interactions with the ITS
SG meetings may be organised back-to back possibly including joint sessions on items of common
interest. The coordinator asked the members to think about the items of the action plan and act as
rapporteurs of these files.
The Secretariat informed the group that the delegations were invited to provide proposals on the
structure of subgroups until the 31st of July to the Chair team and to the Secretariat.
By 31 July send suggestions regarding the structure of subgroups to the Chair team and to the
For the action plan send items and proposals for acting as rapporteur to the Coordinator with
the Secretariat in copy.
The coordinator presented the Resolution adopted by the EP on the 5th of July on the adverse effects
of FATCA on EU citizens and in particular ‘Accidental Americans’ to start the discussion on the matter
taking in consideration especially the letter received from the Accidental Americans Association.
will draft and share with the subgroup the info note for the Plenary by 27 July.
Participants are invited to provide comments.
7. ESMA - rapporteur drafting team
Participants were invited to brief their commissioners on the matter.
8. OECD CRS
informed on the circulation of the adopted OECD questionnaire to their national competent tax
authority. The Secretariat was requested to send a reminder to the EDPB members.
The Secretariat will remind the members of the EDPB to provide the questionnaire to the
competent national authorities.
9. European Payment Institutions Federation
10. Next meetings and varia
For the next meeting two dates were proposed. Due to the collaboration with the ITS the coordinator
of the ITS will see if on the 17th of October the morning session can be a shared session between the
ITS and the FMS, with the afternoon being reserved for the FMS. Should this not be possible, the 7th
of November was proposed.
The ITS coordinator will confirm whether the sharing of the morning session will be possible.
Annex: Attendance List
NL, FI, IE, UK, IT, ES, EDPS, FR, DE-NRW, DE-Federal, PT, HR, LU (via phone)
- European Commission
- EDPB Secretariat