17 January 2019
EBA and ESMA reports on crypto-assets
www.twobirds.com/en/news/articles/2019/global/eba-and-esma-reports-on-crypto-assets

On January 9, 2019, the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) each published advice on crypto-assets to the European Commission (EC) and the European Union ...

01 April 2019
EBA published first responses to concerns raised by its Working Group on APIs under PSD2
www.twobirds.com/en/news/articles/2019/global/eba-published-first-responses-to-concerns-raised-by-its-working-group-on-apis-under-psd2

On 11 March 2019, the European Banking Authority (EBA) published clarifications to the first set of issues that had been raised and discussed by participants of its Working Group (WG) on Application Programming ...

09 April 2019
EBA publish their final report on their guidelines on outsourcing arrangements
www.twobirds.com/en/news/articles/2019/global/eba-publish-their-final-report-on-their-guidelines-on-outsoucing-arrangements

On 25 February 2019, the European Banking Authority (EBA) published their final report on their guidelines on outsourcing arrangements.

25 November 2020
The EU Court of Justice rules on various PSD2 provisions, including potential cardholder liability in relation to contactless payments
www.twobirds.com/en/news/articles/2020/global/the-eu-court-of-justice-rules-on-various-psd2-provisions-including-potential-cardholder-liability

As we know, the area of payments is a complex one, not only because of the way in which payments operate (i.e. the technology is sometimes complex), but also because the relevant legislation is not always very clear, is ...

23 October 2020
EBA consults on changes to its guidelines on major incident reporting under PSD2
www.twobirds.com/en/news/articles/2020/global/eba-consults-on-changes-to-its-guidelines-on-major-incident-reporting-under-psd2

On 14 October 2020, the European Banking Authority (EBA) launched a public consultation on the revision of the current EBA Guidelines on major incident reporting under Directive (EU) 2015/2366 (PSD2) -EBA/GL/2017/10- ...

14 October 2020
Commission Digital Finance Package Strategies
www.twobirds.com/en/news/articles/2020/global/commission-digital-finance-package-strategies

On 24 September 2020, the European Commission unveiled its Digital Finance Package.

13 August 2020
Revision of EEA Interchange Fee Regulation appears unlikely – at least for now
www.twobirds.com/en/news/articles/2020/global/revision-of-eea-interchange-fee-regulation-appears-unlikely

Card issuers, acquirers and merchants are among those preparing for a public hearing to take stock of the EEA Interchange Fee Regulation (Regulation (EU) 2015/751 – IFR), due to be organised by the European Commission ...

13 August 2020
New EU obligations for PSPs regarding information they hold on the application of VAT on payment transactions
www.twobirds.com/en/news/articles/2020/global/new-eu-obligations-for-psps

On 18 February, the Council of the European Union approved a series of rules (including a Directive and a Regulation) aimed at facilitating the detection of tax fraud for VAT purposes in cross-border payment ...

12 December 2018
Memorandum of Understanding details the common approach of some EU national regulators to monitoring the separation of card schemes and processing units under the IFR
www.twobirds.com/en/news/articles/2018/global/mou-details-common-approach-of-some-eu-regulators-separation-of-card-schemes-and-processing-units

Regulators in eight Member States (Belgium, Czech Republic, Denmark, Finland, Italy, Lithuania, Netherlands, UK) have entered into a memorandum of understanding (MoU) which aims to develop a consistent approach to ...

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 ...