21 January 2019
When is an air carrier not an air carrier? A Regulation 261 anomaly
www.twobirds.com/en/news/articles/2019/global/when-is-an-air-carrier-not-an-air-carrier-a-regulation-261-anomaly

On 6 December 2018 the European Court of Justice ("ECJ") issued a preliminary ruling concerning the interpretation of EU Regulation 261/2004 ("Regulation 261") Article 2(a), Article 5(1)(c) and Article 7(1). These ...

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 ...

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.

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.

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 ...

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 ...

29 July 2020
Sustainable finance in aviation: what does the future hold?
www.twobirds.com/en/news/articles/2020/global/sustainable-finance-in-aviation-what-does-the-future-hold

As sustainability play a greater role in driving investment decisions in the aviation industry, our Aviation Finance team looks at the current position and explores what the future might look like.

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 ...