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  1. Legal news
    09 April 2019
    EBA publish their final report on their guidelines on outsourcing arrangements
    www.twobirds.com/en/news/articles/2019/global/eba-publish-their-final-report-on-their-guidelines-on-outsoucing-arrangements

    On 25 February 2019, the European Banking Authority (EBA) published their final report on their guidelines on outsourcing arrangements.

  2. Legal news
    25 March 2019
    Launch of the EBA Register of Payment Institutions (PIs) and Electronic Money Institutions (EMIs) under PSD2
    www.twobirds.com/en/news/articles/2019/global/launch-of-the-eba-register-of-payment-institutions-pis-and-electronic

    On 18 March 2019, the European Banking Authority (EBA) launched its central electronic register under the Payments Services Directive (PSD2).

  3. Legal news
    16 August 2019
    PSD2: Germany’s BaFin pulls emergency brakes on account interfaces. Fintechs stand to benefit, banks must step up their game.
    www.twobirds.com/en/news/articles/2019/global/psd2-germanys-bafin-pulls-emergency-brakes-on-account-interfaces

    Germany’s Federal Financial Supervisory Authority (BaFin) concludes in a circular that bank’s new account interfaces do not conform to PSD2 requirements. They may thus not switch off access through existing interfaces.

  4. Legal news
    24 July 2018
    EBA publishes final Guidelines on fraud reporting under PSD2
    www.twobirds.com/en/news/articles/2018/global/eba-publishes-final-guidelines-on-fraud-reporting-under-psd2

    The European Banking Authority (EBA) has published the final Guidelines on fraud reporting under the revised Payment Services Directive (PSD2).

  5. Legal news
    23 May 2019
    ICO: Legal Classification of Tokens: part 1 Issuance of coins
    www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens

    Part 1/5: The Issuance of coins and tokens are an innovative way to raise capital and fund projects using distributed ledger technology. This first part introduces the technology, its structure and basic legal ...

  6. Legal news
    11 June 2019
    ICO: Legal Classification of Tokens – Update BaFin’s view
    www.twobirds.com/en/news/articles/2019/global/icolegal-classification-of-tokens

    Depending on the rights a Token conveys, it can be a Security Token, a Currency Token, a Utility Token or take a hybrid form. Legal literature and regulatory practice can at times diverge.

  7. Legal news
    07 May 2019
    The EC puts an end to decades of competition law enforcement against interchange fees: What's next for interchange fees?
    www.twobirds.com/en/news/articles/2019/global/ec-puts-an-end-to-decades-of-competition-law-enforcement-against-interchange-fees

    We provide below a brief recap on the many-many years of competition law enforcement by the European Commission (EC) against interchange fees, a summary of the EC decision of 29 April 2019 related to Visa's and ...

  8. Legal news
    08 April 2019
    EU: The interplay of PSD2 and GDPR - some select issues
    www.twobirds.com/en/news/articles/2019/global/eu-the-interplay-of-psd2-and-gdpr-some-select-issues

    It can be argued that the principle purposes of the General Data Protection Regulation (Regulation (EU) 2016/679) ('GDPR') and the Payment Services Directive (Directive (EU) 2015/2366) ('PSD2') are in contrast with one ...

  9. Legal news
    09 October 2019
    ICO – Germany’s BaFin publishes new guidance notice on crypto token regulation
    www.twobirds.com/en/news/articles/2019/germany/ico-neues-bafin-merkblatt

    On 16 August 2019, the German Federal Financial Supervisory Authority (BaFin) published an updated guidance notice (German) on the issuance of crypto token (e.g. through ICO, ITS or TGE) providing assistance with ...

  10. Legal news
    07 August 2019
    Implementation of the fifth Anti-Money Laundering Directive: Rise or Demise of the German Crypto Market?
    www.twobirds.com/en/news/articles/2019/germany/umsetzung-der-5-geldwaescherichtlinie

    The German Ministry of Finance (Bundesministerium der Finanzen – BMF) published a draft legislative proposal (German) to implement the European directive to amend the fourth European anti-money laundering directive ...