Due to its concerns that card-acquiring services might not be offering value for money for merchants, the PSR decided to conduct a comprehensive review of the card-acquiring sector focussing on the impact of competition and...more
Key developments of interest over the last month include: El Salvador: Bitcoin becomes legal tender European Union: European Commission proposes Path to the Digital Decade to deliver EU's digital transformation by 2030...more
9/29/2021
/ AML/CFT ,
Bank of England ,
Banking Sector ,
Bitcoin ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
El Salvador ,
EU ,
European Commission ,
FDIC ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
FinTech ,
OCC ,
Payment Services Directive ,
Popular ,
State Administration for Market Regulation (SAMR)
Key developments of interest over the last month include: Europe: EBA consults on proposed guidelines on limited network exclusion under PSD2 UAE: Central bank issues Retail Payment Services and Card Schemes Regulation United...more
Key developments of interest over the last month include:
United Kingdom: HM Treasury is consulting on proposed insolvency changes for payment institutions and electronic money institutions, including a bespoke special...more
Key developments of interest over the last month include:
Europe: The CJEU has found that (i) PSD2 does not restrict the type of terms that can be changed by tacit consent, but where the payment service user is a consumer the...more
Europe: European Commission communication on EU Retail Payments Strategy -
On 24 September 2020 the European Commission published a communication setting out an EU Retail Payments Strategy identifying key priorities and...more
10/29/2020
/ Cross-Border Transactions ,
Digital Currency ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinTech ,
MasterCard ,
Payment Systems ,
Popular ,
PSD2 ,
Regulatory Agenda
Key developments of interest over the last month include:
United Kingdom: HM Treasury publishes Call for Evidence for Payments Landscape Review, seeking industry input on how payment systems could be improved. The deadline...more
8/21/2020
/ Call for Evidence ,
Canada ,
Data Protection ,
EU ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
HM Treasury ,
Payment Systems ,
Popular ,
PSD2 ,
Regulatory Agenda ,
Regulatory Requirements ,
UK
Our note summarises key national payment moratoria measures and other reliefs related to the COVID-19 pandemic which have been introduced in various European countries and which are relevant in the context of structured...more
The current situation is fast-moving. The information below reflects our understanding of payment moratoria measures and other reliefs related to the COVID-19 pandemic as at 9 June 2020. In many cases the legislation,...more
The current situation is fast-moving in light of the COVID-19 pandemic. Many financial supervisory and regulatory authorities as well as local governments have issued measures which are relevant for financial institutions...more
4/28/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements ,
EU ,
European Central Bank ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
IOSCO ,
Loans ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Short Selling ,
UK
Key developments of interest over the last month include:
Spain: The Spanish Council of Ministers has approved a draft Bill for the Digital Transformation of the Financial System, which will create a Spanish regulatory...more
3/20/2020
/ AML/CFT ,
Cryptocurrency ,
Digital Currency ,
EU ,
FATF ,
Federal Budget ,
Financial Services Industry ,
FinTech ,
Payment Systems ,
Regulatory Requirements ,
Sandbox ,
SEPA ,
UK ,
UK Brexit ,
UK Payment Systems Regulator
In its 2015 Productivity Plan, the government committed to working with UK regulators to publish Innovation Plans setting out how legislation and enforcement frameworks could adapt to emerging technologies and disruptive...more
4/6/2017
/ Bank of England ,
Blockchain ,
BSA/AML ,
Digital Currency ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
FinTech ,
Innovation ,
Innovative Technology ,
Prudential Regulation Authority (PRA) ,
PSD2 ,
RegTech ,
Regulatory Agencies ,
UK ,
UK Payment Systems Regulator