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European Union › Payment Services Directive › Financial Services Industry

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
McDermott Will & Emery

Barrierefreiheitsstärkungsgesetz (BFSG) und die betroffenen Bankdienstleistungen

McDermott Will & Emery on

Am 28. Juni 2025 tritt das Barrierefreiheitsstärkungsgesetz (BFSG) in Kraft. Das Kernziel des BFSG ist es, allen Menschen die barrierefreie Teilhabe am Wirtschaftsleben zu ermöglichen. So ist die Teilhabe an digitalen...more

Latham & Watkins LLP

EBA Publishes No Action Letter on Interaction Between MiCA and PSD2

Latham & Watkins LLP on

In the short term, firms are likely to face dual authorisation and significant regulatory requirements. On 10 June 2025, the European Banking Authority (EBA) issued a No Action letter on the relationship between the...more

Hogan Lovells

European Commission confirms narrower scope of e-money acceptance under EMD2

Hogan Lovells on

In a recent response to an EBA Q&A and with reference to existing ECJ case law, the European Commission has stated that the condition of acceptance in the definition of e-money in the second E-Money Directive (2009/110/EC)...more

A&O Shearman

EBA repeals guidelines on major incident reporting under the revised Payment Services Directive

A&O Shearman on

The European Banking Authority has announced that it has repealed its guidelines on major incident reporting under the revised Payment Services Directive due to the application of harmonized incident reporting under the...more

A&O Shearman

Financial Stability Board issues recommendations for regulating cross-border payments

A&O Shearman on

The Financial Stability Board has published two final reports on recommendations to promote greater alignment and interoperability across data frameworks related to cross-border payments, and consistency in the regulation and...more

A&O Shearman

UK Independent Review of the Payment and Electronic Money Institution Insolvency Regulations 2021

A&O Shearman on

HM Treasury has published its letter inviting Adam Plainer to lead an independent review of the Payment and Electronic Money Institution Insolvency Regulations 2021 (PESAR)...more

A&O Shearman

Financial Stability Board Publishes Letter to G20 Leaders and 2024 Annual Report

A&O Shearman on

The Financial Stability Board has published a letter sent to the G20 leaders ahead of their meeting on November 18, 2024, together with the FSB 2024 annual report...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - November 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: 2024 list of global systemically important banks - Status: Final - The FSB has published a 2024 list of global systemically...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - September 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness,...more

A&O Shearman

UK Financial Conduct Authority Consults on Changes to the Safeguarding Regime for Payments and E-Money Firms

A&O Shearman on

The U.K. Financial Conduct Authority had published a consultation on proposals to address weaknesses in the safeguarding regime for payments and e-money firms. The FCA explains that there remain poor practices across the...more

Hogan Lovells

PSD3: European Parliament adopts amended PSD3 and PSR texts at first reading

Hogan Lovells on

On 23 April 2024, the European Parliament announced its adoption at first reading of amended texts of the European Commission’s June 2023 legislative proposals for a Directive on payment services and electronic money services...more

McDermott Will & Emery

Von Zahlungsdienstleistern bis zu Profifußballvereinen: Neue EU-Vorschriften zur Bekämpfung von Geldwäsche verabschiedet

McDermott Will & Emery on

Das Europäische Parlament hat am 24. April 2024 ein neues Gesetzespaket zur Geldwäschebekämpfung verabschiedet, welches das Instrumentarium der EU zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung stärken soll....more

Skadden, Arps, Slate, Meagher & Flom LLP

EU’s Proposed Revisions to the Payment Services Directive, and How They Compare to the UK’s Approach

Skadden, Arps, Slate, Meagher & Flom LLP on

On 28 June 2023, the European Commission (EC) published its proposals for both a revised Payment Services Directive (PSD3) and a new accompanying Payment Services Regulation (EU PSR). This package of reforms addresses certain...more

Hogan Lovells

Evolution not revolution: European Commission publishes financial data access and payments package

Hogan Lovells on

As part of the European Commission’s 2020 Retail Payments Strategy and following its 2022 review of PSD2 and related consultations, it has published legislative proposals to improve the functioning of PSD2. The first is for a...more

Goodwin

Doing Fintech Business in the UK: Regulatory Q&A for US and Other Non-UK Businesses

Goodwin on

With more fintech’s looking to expand their businesses internationally, it can be daunting to navigate varying regulations across borders. This article focuses on regulations in the United Kingdom....more

Hogan Lovells

UK government reviews Payment Services Regulations and Payment Card Interchange Fee Regulations

Hogan Lovells on

HM Treasury has published a review and call for evidence on the Payment Services Regulations 2017, as well as the outcome of a post-implementation review of the Payment Card Interchange Fee Regulations 2015. Both...more

Latham & Watkins LLP

E-Money, Payment Services, and Insolvency

Latham & Watkins LLP on

Consumers and service providers should take note of some of the enhanced risks upon an e-money institution’s insolvency. Technology is rapidly changing the way customers and businesses interact with financial systems....more

Hogan Lovells

Global Payments Newsletter, May 2022

Hogan Lovells on

Key developments of interest over the last month include: Queen's Speech 2022 announces forthcoming Financial Services and Markets Bill; European Commission consultations and calls for evidence on PSD2 review and open...more

Hogan Lovells

Snapshot of recent EU regulatory developments relevant to retail banking and payments

Hogan Lovells on

There has been a recent flurry of EU developments relating to a number of ongoing initiatives relevant to firms in the retail banking and payments sectors, including some movement on the European Commission's review of PSD2...more

Proskauer Rose LLP

Regulation Round Up - February 2022

Proskauer Rose LLP on

Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. 28 February - The Financial Conduct Authority (“FCA”) published Handbook Notice...more

Hogan Lovells

Global Payments Newsletter, September 2021

Hogan Lovells on

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

Hogan Lovells

Global Payments Newsletter, July 2021

Hogan Lovells on

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

Hogan Lovells

Payments regulatory news, July 2021 #2

Hogan Lovells on

PSD2: EBA consults on guidelines on limited network exclusion The European Banking Authority (EBA) is consulting on guidelines on the limited network exclusion (LNE) under the revised Payment Services Directive (PSD2)....more

Hogan Lovells

Bank of Italy implements PSD2 provision on the obligation to inform consumers of their rights

Hogan Lovells on

On 1 July 2021, the Bank of Italy transposed into the Italian legal framework Article 106 of PSD2 regarding the obligation for payment service providers to inform consumers of their rights in the context of the provision of...more

Morrison & Foerster LLP

UK Financial Services Act 2021 Receives Royal Assent

Morrison & Foerster LLP on

On 29 April 2021, the Financial Services Bill received Royal Assent in the UK, becoming law as the Financial Services Act 2021 (the “Act”). This is the first significant step for the UK in shaping its financial services...more

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