02 August 2019
PSD2: transitional period for strong customer authentication for online card payments in Italy
www.twobirds.com/en/news/articles/2019/global/psd2-transitional-period-for-strong-customer-authentication-for-online-card-payments-in-italy

On 1st August 2019 the Bank of Italy issued a press release where it announced that it will grant, in line with the decisions taken at European level, more time to the Italian financial industry to complete the ...

15 May 2019
Credit risk – BaFin consultation regarding positions associated with particular high risk
www.twobirds.com/en/news/articles/2019/germany/credit-risk-bafin-consultation-regarding-positions-associated-with-particular-high-risk

German regulator BaFin released its new draft circular on exposures associated with high risk.

01 April 2019
Brexit: What do customers of British Financial Institutions in Germany need to know?
www.twobirds.com/en/news/articles/2019/germany/brexit-what-do-customers-of-british-financial-institutions-in-germany-need-to-know

With no foreseeable positive decision regarding Brexit, a so-called No-Deal Brexit is most likely. What does this mean for customers of British financial institutions, the European Passport and is German banking ...

01 July 2019
Danish FSA issues statement addressing possible exemption for financial management systems, ERP systems and similar systems with an integrated payment function from the requirement of strong customer authentication under PSD2
www.twobirds.com/en/news/articles/2019/denmark/the-danish-fsa-issues-statement-addressing-possible-exemption-for-financial-management-systems

The Danish FSA recently issued a statement addressing possible exemption for financial management systems, ERP systems and similar systems with an integrated payment function from the requirement of strong customer ...

11 March 2019
Brexit: information for Italian customers of UK-based financial institutions providing services in Italy
www.twobirds.com/en/news/articles/2019/global/brexit-information-for-italian-customers-of-uk-based-financial-institutions

On 29th March, 2019, unless further decisions are taken, the United Kingdom’s withdrawal from the European Union (Brexit) will take effect; i.e. two years after the British government notified the European Council of ...

25 June 2019
Strong Customer Authentication (SCA): EBA Opinion allows for more time, and provides more clarity on the various SCA elements
www.twobirds.com/en/news/articles/2019/global/the-opinion-of-the-eba-on-the-elements-of-sca

On 21 June 2019, the European Banking Authority (EBA) published another Opinion on the updated Payment Services Directive (PSD2) and in particular its provisions on Strong Customer Authentication (SCA)

01 April 2019
EBA published first responses to concerns raised by its Working Group on APIs under PSD2
www.twobirds.com/en/news/articles/2019/global/eba-published-first-responses-to-concerns-raised-by-its-working-group-on-apis-under-psd2

On 11 March 2019, the European Banking Authority (EBA) published clarifications to the first set of issues that had been raised and discussed by participants of its Working Group (WG) on Application Programming ...

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.

29 August 2019
German ministries propose to transfer financial investment brokerage supervision to BaFin
www.twobirds.com/en/news/articles/2019/global/german-ministries-propose-to-transfer-financial-investment-brokerage-supervision-to-bafin

The plan issued by the Ministries of Finance, Economy and Justice proposes the of supervision for financial investment brokerage transfer to BaFin . While introducing a new umbrella category, substantial changes to ...

25 July 2019
Some key topics under PSD2: open banking, strong customer authentication, and the platform/commercial agent exemption
www.twobirds.com/en/news/articles/2019/global/some-key-topics-under-psd2

The second Payment Services Directive (PSD2) updates the original Payment Services Directive (PSD1) which dates back from 2007. In this article, we will discuss the most important changes in- troduced by PSD2 and the ...