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  1. Legal news
    24 February 2020
    Spain approves the Legislative Proposal that implements a regulatory sandbox
    www.twobirds.com/en/news/articles/2020/spain/spain-approves-the-legislative-proposal-that-implements-a-regulatory-sandbox

    On February 18, the Spanish Council of Ministers approved the legislative proposal on measures for the digital transformation of the financial sector (the "Legislative Proposal") and has passed it on to the Parliament ...

  2. 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 ...

  3. Legal news
    17 February 2021
    Germany: Extension of Money Laundering Crime burdens Obliged Entities
    www.twobirds.com/en/news/articles/2021/germany/extension-of-money-laundering-crime-burdens-obliged-entities

    The German parliament (Bundestag) has passed a new version of the money laundering offence, which has far-reaching implications for the fulfillment of obligations under the Money Laundering Act.

  4. Legal news
    17 February 2021
    Employer salary advance schemes to be closely monitored by the FCA
    www.twobirds.com/en/news/articles/2021/global/employer-salary-advance-schemes-to-be-closely-monitored-by-the-fca

    Employer salary advance schemes (ESAS) are becoming increasingly popular in the payments sector. Much of the public focus of the review carried out by Christopher Woolard published on 2 February 2021 (the Woolard ...

  5. 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)

  6. Legal news
    28 February 2018
    Payments in the Airline Industry
    www.twobirds.com/en/news/articles/2018/global/payments-in-the-airline-industry

    The so-called "PSD2" is the revision of an existing directive from 2007, called the "Payment Services Directive" or "PSD" or "PSD1".

  7. Legal news
    27 February 2020
    Dutch Data Protection Authority investigates account information service providers
    www.twobirds.com/en/news/articles/2020/netherlands/dutch-data-protection-authority-investigates-account-information-service-providers

    On Monday 24th February, the Dutch Data Protection Authority (Autoriteit Persoonsgegevens, AP) communicated that it had initiated investigations into Dutch companies holding a PSD2 authorisation to access and process ...

  8. Legal news
    23 June 2020
    Tax credit on commissions related to electronic payments: Revenue Agency and Bank of Italy Regulations
    www.twobirds.com/en/news/articles/2020/italy/tax-credit-on-commissions-related-to-electronic-payments

    As part of the so-called Italian Budget Law 2020, the Government has introduced measures to promote the use of non-cash means of payment.

  9. Legal news
    22 May 2020
    The French competition authority launches a public consultation on the fintech sector
    www.twobirds.com/en/news/articles/2020/france/the-french-competition-authority-launches-a-public-consultation-on-the-fintech-sector

    In parallel to the two consultations launched by the European Commission (EC) at the beginning of April 2020 on digital finance strategy/FinTech and retail payments the French Competition Authority (FCA) has just ...

  10. Legal news
    26 August 2020
    France - French Ministry of Economy launches digital transformation working group
    www.twobirds.com/en/news/articles/2020/france/france---mission-launch-about-digital-transformation-by-the-french-ministry-of-economy

    On 5 August 2020, the French Ministry of Economy announced the launch of a mission on the digital transformation of the French Economy (in French “La mission numérique des grands groupes”). France aims to be one of the ...