The present wave of data warehousing and business analytics confirms this, with big data poised to deliver topline research and statistical applications in a cost-effective way. Huge amounts of data can provide substantial insights for the private and public sectors, enabling them to transform these data into new products and services for customers and citizens.
And the problem starts with the scope of that supervision. Large investment firms and thirdcountry branches are still not covered by it. This situation should be changed to restrict regulatory and supervisory arbitrage. Then there are the options and national discretions contained in European regulation. Some of them are still exercised differently across the euro area. It’s up to legislators to harmonise them.