19 November 2019
Review of Danish outsourcing rules for the financial services sector
www.twobirds.com/en/news/articles/2019/global/review-of-danish-outsourcing-rules-for-the-financial-services-sector

On 15 November 2019, the Danish Financial Supervisory Authorities (Danish FSA) published a consultation of a new bill with the aim of aligning the outsourcing regulation for financial institutions, including e-money and ...

04 September 2019
Extra time awarded by FCA for Strong Customer Authentication and for screen scraping payment accounts under PSD2 Open Banking
www.twobirds.com/en/news/articles/2019/uk/extra-time-awarded-by-fca-for-strong-customer-authentication

UK Financial Conduct Authority (FCA) has awarded extra time in relation to Strong Customer Authentication (SCA) for e-commerce card transactions, as well as extending the period of time during which TPPs can screen ...

10 March 2020
AA v Persons Unknown: Cryptocurrencies considered property under English Law following Ransom Demand
www.twobirds.com/en/news/articles/2020/uk/aa-v-persons-unknown

Cryptoassets such as Bitcoin can constitute property under English law and are capable of being subject to a proprietary injunction, according to a recent decision from Mr Justice Bryan in the Commercial Court.

12 September 2019
The Hungarian National Bank provides card issuers and acquirers an additional 12 months to comply with PSD2 strong customer authentication
www.twobirds.com/en/news/articles/2019/global/the-hungarian-national-bank-provides-card-issuers-an-additional-12-months-to-comply-with-psd2

On 10 September 2019, the Hungarian National Bank (HNB) issued a press release (available in English here and in Hungarian here [PLEASE INCLUDE HYPERLINKS FROM WORD DOC]) in which it provides Hungarian cards issuers and ...

13 December 2019
LawTech Delivery Panel issues "watershed" Legal Statement Demystifying Cryptoassets and Smart Contracts
www.twobirds.com/en/news/articles/2019/uk/lawtech-delivery-panel-issues-watershed-legal-statement-demystifying-cryptoassets-and-smart

Earlier this year, the UK Jurisdiction Taskforce (UKJT), part of the LawTech Delivery Panel, published its Consultation Paper to consider what it described as "the perceived legal uncertainty" relating to cryptoassets ...

19 June 2018
Bird & Bird advises EY on the establishment of an innovative joint venture with Guardtime, which aims to transform the $30 billion global marine hull insurance industry
www.twobirds.com/en/news/press-releases/2018/uk/bird-and-bird-advises-ey-on-the-establishment-of-an-innovative-joint-venture-with-guardtime

International law firm Bird & Bird has acted for EY on the establishment of a joint venture with Guardtime, one of the world's leading blockchain solutions companies, which has the potential to transform the $30 billion ...

09 September 2019
Online Card Payments temporarily exempt from Strong Customer Authentication in Finland
www.twobirds.com/en/news/articles/2019/global/online-card-payments-temporarily-exempt-from-strong-customer-authentication-in-finland

Pursuant to PSD2, as implemented into Finnish law, payment service providers needs to perform SCA when the user accesses its payment account online, when the payer is initiating a payment, or when the user carries out ...

04 October 2019
EBA Guidelines On Outsourcing Arrangements Have Entered Into Force
www.twobirds.com/en/news/articles/2019/global/eba-guidelines-on-outsourcing-arrangements-have-entered-into-force

The guidelines on outsourcing arrangements (Guidelines) of the European Banking Authority (EBA) entered into force. The Guidelines are aimed at harmonising the framework for outsourcing arrangements for financial ...

27 March 2020
Increase of contactless payment limits in order to slow down spread of COVID-19
www.twobirds.com/en/news/articles/2020/global/increase-of-contactless-payment-limits-in-order-to-slow-down-spread-of-covid-19

As the coronavirus (COVID-19) pandemic continues to spread across the globe, governments and international organisations (e.g. World Health Organisation) are recommending to consumers that, rather than paying in cash in ...

22 November 2019
Case notes: Landmark ruling of the Court of Justice of the European Union (CJEU) on validity of airport charges
www.twobirds.com/en/news/articles/2019/global/case-notes-landmark-ruling-of-the-court-of-justice-of-the-european-union

The Court of Justice of the European Union (CJEU) has rendered a landmark decision ruling that airports must not agree with individual airport users preferential airport charges different from those approved by the ...