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  1. Legal news
    17 October 2019
    Strong Customer Authentication (SCA): EBA opinion allows for 15-month migration period
    www.twobirds.com/en/news/articles/2019/global/strong-customer-authentication

    On 16 October 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)

  2. Legal news
    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 ...

  3. Legal news
    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 ...

  4. Legal news
    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)

  5. Legal news
    01 November 2017
    EBA final Guidelines on major incident reporting under PSD2
    www.twobirds.com/en/news/articles/2017/global/eba-final-guidelines-on-major-incident-reporting-under-psd2

    On 27 July 2017, the EBA adopted final guidelines on major incident reporting, providing more granularity to the incident reporting obligations contained in Article 96 of PSD2.

  6. Legal news
    20 May 2021
    FCA sends Dear CEO letter to e-money institutions about their financial promotions and communications to customers
    www.twobirds.com/en/news/articles/2021/global/fca-sends-dear-ceo-letter-to-emoney-institutions

    On 18 May 2021, the FCA sent a Dear CEO Letter to e-money firms setting out their concerns about e-money firms comparing their services to traditional bank accounts or holding themselves out as an alternative to banks ...

  7. Legal news
    11 June 2021
    On 10 June 2021, the European Banking Authority (EBA) published its final revised Guidelines on major incident reporting under the Payment Service Directive (PSD2) - (the “Guidelines” - EBA/GL/2021/03).
    www.twobirds.com/en/news/articles/2021/global/on-10-june-2021-the-european-banking-authority-eba-published-its-final-revised-guidelines

    Introduction and background Pursuant to article 96(3) of Directive (EU) 2015/2366 (PSD2), the original Guidelines on major incident reporting were developed in 2017 in close cooperation with the European Central Bank ...

  8. Legal news
    01 April 2021
    EBA takes action to address ‘de-risking’ practices
    www.twobirds.com/en/news/articles/2021/global/eba-takes-action-to-address-de-risking-practices

    The European Banking Authority (EBA) published three regulatory instruments to address de-risking practices based on its call for input.

  9. Legal news
    05 February 2021
    The FCA consults on changes to Strong Customer Authentication (SCA) rules, SCA transaction thresholds for contactless payments and its guidance on payment services and electronic money
    www.twobirds.com/en/news/articles/2021/global/the-fca-consults-on-changes-to-strong-customer-authentication

    On 28 January 2020, the FCA published a consultation paper CP21/3 (Consultation Paper) setting out proposed changes to the SCA-RTS, the guidance in the FCA’s approach document (Approach Document) and the Perimeter ...

  10. Legal news
    10 February 2021
    Unregulated buy now pay later products to be brought within the scope of FCA regulation
    www.twobirds.com/en/news/articles/2021/uk/unregulated-buy-now-pay-later-products-to-be-brought-within-the-scope-of-fca-regulation

    On 2 February 2021, former interim chief executive of the Financial Conduct Authority (FCA), Christopher Woolard CBE, published a review on the risks of the currently unregulated buy now pay later (BNPL) products (the ...