09 April 2020
EC launches consultations on digital finance strategy/fintech and retail payments
www.twobirds.com/en/news/articles/2020/global/ec-launches-consultations-on-digital-finance-strategy-fintech-and-retail-payments

On 3 April 2020, the EC launched two consultations.

15 April 2020
EBA consultation on changes to AML/CTF risk factors guidelines
www.twobirds.com/en/news/articles/2020/global/eba-consultation-on-changes-to-aml-cf-risk-factors-guidelines

On 5 February 2020, the European Banking Authority (EBA) issued a public consultation on changes to the anti-money laundering and counter-terrorist financing (AML/CTF) risk factors guidelines (Guidelines).

13 February 2020
Apple Pay under Competition Law scrutiny
www.twobirds.com/en/news/articles/2020/global/apple-pay-under-competition-law-scrutiny

DG COMP is investigating Apple Pay. In this article, we discuss some of the issues that, we believe, must be discussed at part of that investigation.

22 April 2020
The PSR sets a revised deadline of 1 May 2020 for responses to a Call for Input on its "Competition and Innovation in the UK’s New Payments Architecture" briefing paper
www.twobirds.com/en/news/articles/2020/global/the-psr-sets-a-revised-deadline-of-1-may-2020-for-responses-to-a-call-for-input

The UK's Payment Systems Regulator (PSR) has set a new deadline of 1 May 2020 for interested parties to respond to its briefing paper

25 February 2020
New EU VAT reporting laws for Payment Service Providers
www.twobirds.com/en/news/articles/2020/global/new-eu-vat-reported-laws-for-payment-service-providers

New EU VAT legislation has been formally adopted last week which will have a significant impact for regulated payment service providers (PSPs) in the EU and (we anticipate) the UK.

10 February 2021
Unregulated buy now pay later products to be brought within the scope of FCA regulation
www.twobirds.com/en/news/articles/2021/uk/unregulated-buy-now-pay-later-products-to-be-brought-within-the-scope-of-fca-regulation

On 2 February 2021, former interim chief executive of the Financial Conduct Authority (FCA), Christopher Woolard CBE, published a review on the risks of the currently unregulated buy now pay later (BNPL) products (the ...

05 February 2020
PSD2 and limited network exclusion (e.g. gift cards): by 30 April 2020, issuers of payment instruments covered by the limited network exclusion shall fulfil their reporting obligation towards Bank of Italy
www.twobirds.com/en/news/articles/2020/italy/psd2-and-limited-network-exclusion-by-30-april-2020-issuers-of-payment-instruments

Regulation issued by Bank of Italy on 11 October 2018 ("Regulation") – implementing certain provisions of the Directive (EU) 2015/2366 ("PSD2") and Legislative Decree 15 December 2017, n. 218 – introduced the obligation ...

07 April 2020
Strong Customer Authentication, Fraud and the Coronavirus Crisis: New UK FCA guidance to firms
www.twobirds.com/en/news/articles/2020/uk/strong-customer-authentication-fraud-and-the-coronavirus-crisis-new-uk-fca-guidance-to-firms

The Financial Conduct Authority (FCA) in the UK has published a series of updates on COVID-19 over recent days and weeks. On 31 March 2020, the FCA updated its guidance to firms on Strong Customer Authentication (SCA) ...

01 April 2020
PSD2 and limited network or limited range exclusions (e.g. gift cards): the deadline for reporting data relating to the activity carried out in 2019 has been postponed to 30 June 2020 in Italy
www.twobirds.com/en/news/articles/2020/italy/psd2-and-limited-network-or-limited-range-exclusions

Due to the current emergency caused by the COVID-19 epidemic, Bank of Italy has postponed from 30 April to 30 June 2020 the deadline for reporting data relating to the activity carried out in 2019 by the issuers of ...