The ECJ has confirmed that a payment service user (PSU) is deprived of the right to reimbursement for an unauthorised transaction under PSD1 if: they fail to notify without undue delay upon becoming aware of it; or...more
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
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
U.S. Financial Industry Developments - CFTC and SEC Announce Approval of New MOU - On June 28, 2018, the Commodity Futures Trading Commission ("CFTC") and the Securities and Exchange Commission ("SEC") announced that...more