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 March 2019
Launch of the EBA Register of Payment Institutions (PIs) and Electronic Money Institutions (EMIs) under PSD2
www.twobirds.com/en/news/articles/2019/global/launch-of-the-eba-register-of-payment-institutions-pis-and-electronic

On 18 March 2019, the European Banking Authority (EBA) launched its central electronic register under the Payments Services Directive (PSD2).

16 August 2019
PSD2: Germany’s BaFin pulls emergency brakes on account interfaces. Fintechs stand to benefit, banks must step up their game.
www.twobirds.com/en/news/articles/2019/global/psd2-germanys-bafin-pulls-emergency-brakes-on-account-interfaces

Germany’s Federal Financial Supervisory Authority (BaFin) concludes in a circular that bank’s new account interfaces do not conform to PSD2 requirements. They may thus not switch off access through existing interfaces.

24 March 2021
Implications following the Wirecard case – and Greensill?
www.twobirds.com/en/news/articles/2021/germany/implications-following-the-wirecard-case-and-greensill

The draft bill of the Financial Market Integrity Strengthening Act (Finanzmarktintegritätsstärkungsgesetz – FISG) and the seven-points plan to reform Germany’s Federal Financial Supervisory Authority (Bundesanstalt für ...

24 July 2018
EBA publishes final Guidelines on fraud reporting under PSD2
www.twobirds.com/en/news/articles/2018/global/eba-publishes-final-guidelines-on-fraud-reporting-under-psd2

The European Banking Authority (EBA) has published the final Guidelines on fraud reporting under the revised Payment Services Directive (PSD2).

07 May 2019
The EC puts an end to decades of competition law enforcement against interchange fees: What's next for interchange fees?
www.twobirds.com/en/news/articles/2019/global/ec-puts-an-end-to-decades-of-competition-law-enforcement-against-interchange-fees

We provide below a brief recap on the many-many years of competition law enforcement by the European Commission (EC) against interchange fees, a summary of the EC decision of 29 April 2019 related to Visa's and ...

23 May 2019
ICO: Legal Classification of Tokens: part 1 Issuance of coins
www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens

Part 1/5: The Issuance of coins and tokens are an innovative way to raise capital and fund projects using distributed ledger technology. This first part introduces the technology, its structure and basic legal ...

11 June 2019
ICO: Legal Classification of Tokens – Update BaFin’s view
www.twobirds.com/en/news/articles/2019/global/icolegal-classification-of-tokens

Depending on the rights a Token conveys, it can be a Security Token, a Currency Token, a Utility Token or take a hybrid form. Legal literature and regulatory practice can at times diverge.

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.

08 April 2019
EU: The interplay of PSD2 and GDPR - some select issues
www.twobirds.com/en/news/articles/2019/global/eu-the-interplay-of-psd2-and-gdpr-some-select-issues

It can be argued that the principle purposes of the General Data Protection Regulation (Regulation (EU) 2016/679) ('GDPR') and the Payment Services Directive (Directive (EU) 2015/2366) ('PSD2') are in contrast with one ...