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 ...

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)

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 ...

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.

05 November 2020
New guidance on AISP and PISP AML requirements in Denmark
www.twobirds.com/en/news/articles/2020/denmark/new-guidance-on-aisp-and-pisp-aml-requirements-in-denmark

On 3 November, the Danish Financial Supervisory Authority (Danish FSA) issued revised AML Guidelines (Danish AML Guidelines) under the Danish Act no. 380 on Measures to Prevent Money Laundering and Financing of ...

30 June 2020
Changes to regulatory framework on the pricing model for the Danish Dankort scheme
www.twobirds.com/en/news/articles/2020/denmark/changes-to-regulatory-framework-on-the-pricing-model-for-the-danish-dankort-scheme

Providers of certain Danish payment instruments – currently only the Danish Dankort scheme operated by Nets - have for several years been subject to pricing regulations limiting such providers to only charge payees an ...

24 December 2020
French Council of State confirms the retention of payment card data is subject to the prior consent of the cardholder
www.twobirds.com/en/news/articles/2020/france/french-council-confirms-retention-of-payment-card-data-subject-to-prior-consent-of-cardholder

In line with the guidance from the French data protection authority “Commission Nationale Informatique et Liberté” (CNIL) the Council of State confirms in a decision dated December 10th, 2020 that the conservation of ...

04 December 2020
Non-Bank Financial Institutions in Singapore To Be Allowed Direct Connection with Major Funds Transfer Services
www.twobirds.com/en/news/articles/2020/singapore/non-bank-financial-institutions-in-singapore-to-be-allowed-direct-connection

Developments announced by the Monetary Authority of Singapore (“MAS”) on 30th November 2020 Recent developments in Singapore’s move towards a cashless society will see the expansion of two major funds transfer ...

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 ...

05 October 2020
The FCA issues an update on onshoring, the Temporary Transitional Powers and the reopening of the Temporary Permissions Regime
www.twobirds.com/en/news/articles/2020/uk/the-fca-issues-an-update-on-onshoring-the-temporary-transitional-powers-and-the-reopening-of

On 1 October 2020, as part of the UK Financial Conduct Authority’s (FCA) initiative to ensure an orderly transition and limit disruptions to the post Brexit onshoring process, the FCA published a statement outlining how ...