11 February 2021
Bird & Bird advises aam2cred Debt Investments on investment by Union Investment
www.twobirds.com/en/news/press-releases/2021/germany/bird-and-bird-beraet-aam2cred-debt-investments-bei-beteiligung-durch-union-investment

Bird & Bird LLP has advised the shareholders of aam2cred Debt Investments GmbH, formerly aamundo Fund Management, on the investment process by Union Investment, which has taken a 10% stake in the private debt manager. ...

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 February 2019
Danish FSA issues statement on its interpretation of "account information services"
www.twobirds.com/en/news/articles/2019/denmark/danish-fsa-has-issues-statement-on-its-interpretation-of-account-information-services

On 30 January 2019, the Danish Financial Supervisory Authority ("Danish FSA") issued a statement on its interpretation of account information services ("AIS") under the Danish payments act no. 652 of 8 June 2018

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 ...

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).

17 January 2019
PayPal Surcharging: FlixMobility appeals decision of Munich Regional Court
www.twobirds.com/en/news/articles/2019/germany/paypal-surcharging-urteil-flixmobility-legt-berufung-ein

FlixMobility responds with an appeal to a surprising decision of the Regional Court of Munich I (LG München) from December 2018 in favor of the German association to combat unfair competition (Wettbewerbszentrale) which ...

18 February 2019
Netherlands: Implementation date of PSD2
www.twobirds.com/en/news/articles/2019/netherlands/implementation-date-psd2-in-the-netherlands

The Dutch Senate approved the legislative proposal transposing the second Payment Services Directive (Directive 2015/2366 – PSD2) into Dutch law on 4 December 2018. At that time, it was expected that the effective date ...

08 July 2019
Dutch Data Protection Authority warns banks to refrain from using transactional data for direct marketing purposes
www.twobirds.com/en/news/articles/2019/netherlands/dutch-data-protection-authority-warns-banks-to-refrain-from-using-transactional-data

In this client alert we discuss the recent letter from Dutch Data Protection Authority calling out to banks to reconsider any plans they may have to use personal data in transactional data for direct marketing purposes, ...

22 March 2019
Italian transparency rules: Bank of Italy publishes its final report regarding the new transparency rules implementing PSD2, PAD and the EBA Joint Committee Guidelines on complaints-handling
www.twobirds.com/en/news/articles/2019/italy/italian-transparency-rules-bank-of-italy-publishes-its-final-report-regarding

On March 19th, 2019, following a public consultation, the Bank of Italy published its final report for the purposes of updating the rules on "Transparency of banking and financial transactions and services.