08 July 2019
Statement from the Danish FSA regarding SCA in the light of the opinion from the Danish FSA
www.twobirds.com/en/news/articles/2019/germany/statement-from-the-danish-fsa-regarding-sca

The Danish FSA (DFSA) has just issued a statement following the EBA's opinion of 21 June 2019 on Strong Customer Authentication (SCA).

21 August 2019
PSD2: BaFin announces postponing SCA-rules for online credit card payments in Germany
www.twobirds.com/en/news/articles/2019/germany/psd2-bafin-announces-postponing-sca-rules-for-online-credit-card-payments-in-germany

The requirement of Strong Customer Authentication (SCA) for payment service providers was scheduled for 14 September 2019. Germany’s Federal Financial Supervisory Authority (BaFin), however, just announced it will not ...

13 September 2019
ECJ Decision: The end of the Germany’s darling SEPA direct debit?
www.twobirds.com/en/news/articles/2019/germany/eugh-urteil-das-ende-der-lastschrift

The ECJ ruled on 5 September 2019 (Case C-28/18) that the acceptance of payments via SEPA direct debit by companies shall not be made conditional to the customer's place of residence.

17 May 2019
Liberation of Crowdfunding in germany
www.twobirds.com/en/news/articles/2019/germany/liberation-of-crowdfunding-in-germany

German Legislator reforms rules for crowdfunding allowing for broader exemption, transparency and investor protection

07 May 2019
PSD2/ZAG: Strong Customer Authentication and Direct Debiting Schemes
www.twobirds.com/en/news/articles/2019/germany/psd2-zag-strong-customer-authentication-and-direct-debiting-schemes

German regulator BaFin limits the application of strong customer authentication for direct debiting schemes.

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 ...

02 July 2019
German implementation of AMLD5: Performance of anti-money laundering due diligence by third parties under the draft bill for the implementation of Directive (EU) 2018/843
www.twobirds.com/en/news/articles/2019/germany/german-implementation-of-amld5

The German Ministry of Finance published a proposal to implement Directive (EU) 2018/843 (fifth Anti-Money Laundering Directive) into German national law. The draft proposes changes when using trusted third parties.

12 August 2020
AMLD5: Financial investment brokers and anti-money laundering rules
www.twobirds.com/en/news/articles/2020/germany/amld5-financial-investment-brokers-and-anti-money-laundering-rules

The fifth Anti-Money Laundering Directive (Directive (EU) 2018/843) came into effect on 1 January 2020. Since then many of the amendments to the German Anti-Money Laundering Act have been discussed without much ...

03 April 2020
KfW liquidity assistance gains immediate traction to combat COVID-19 in Germany
www.twobirds.com/en/news/articles/2020/germany/kfw-liquidity-assistance-gains-immediate-traction-to-combat-covid-19-in-germany

The German Covid-19 countermeasures include an unlimited loan programme facilitated by KfW, the state-owned development bank. Since its announcement in mid-March, thousands of applications have reached the collaborating ...