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  1. 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)

  2. 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 ...

  3. Legal news
    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 ...

  4. Legal news
    29 October 2020
    FSB publishes report on global stablecoins
    www.twobirds.com/en/news/articles/2020/global/client-alert-on-fbs-report-on-global-stablecoins

    The Financial Stability Board (FSB) has published its report with recommendations on how to promote coordinated and effective regulation, supervision and oversight of Global Stablecoin (GSC) arrangements. Global ...

  5. Legal news
    28 May 2021
    EDPB recommends collecting consent to store credit card details for future transactions
    www.twobirds.com/en/news/articles/2021/uk/edpb-recommends-collecting-consent-to-store-credit-card-details-for-future-transactions

    On 19 May 2021, the European Data Protection Board (EDPB) adopted the pithily named Recommendation 02/2021 on the legal basis for the storage of credit card data for the sole purpose of facilitating further online ...

  6. Legal news
    15 December 2020
    UK Government consultation on a new insolvency regime for UK-authorised payment institutions and electronic money institutions
    www.twobirds.com/en/news/articles/2020/uk/uk-government-consultation-on-a-new-insolvency-regime-for-uk-authorised-payment-institutions

    On 3 December 2020, the UK Government (HM Treasury) issued a consultation paper (the Consultation) setting out a proposal to implement a new “special administration regime” (the SAR) which it is proposed would apply to ...

  7. 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 ...

  8. 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)

  9. 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 ...

  10. Legal news
    29 March 2021
    The UK’s Payment Systems Regulator has published its Annual Plan and Budget for 2021/22
    www.twobirds.com/en/news/articles/2021/uk/the-uk-payment-systems-regulator-has-published-its-annual-plan-and-budget-for-2021-22

    On 24 March 2021, the PSR published its Annual Plan and Budget for the forthcoming year, outlining its plans to improve outcomes in payments now, but also in the future. The PSR is the first economic regulator to ...