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  1. Legal news
    22 January 2019
    Italian supervisory instructions for banks
    www.twobirds.com/en/news/articles/2019/global/italian-supervisory-instructions-for-banks

    Bank of Italy implemented EBA Guidelines on major incident reporting and EBA Guidelines on the security measures for operational and security risks of payment services

  2. Legal news
    11 February 2019
    Danish FSA issues statement on its interpretation of "account information services"
    www.twobirds.com/en/news/articles/2019/denmark/danish-fsa-has-issues-statement-on-its-interpretation-of-account-information-services

    On 30 January 2019, the Danish Financial Supervisory Authority ("Danish FSA") issued a statement on its interpretation of account information services ("AIS") under the Danish payments act no. 652 of 8 June 2018

  3. Legal news
    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 ...

  4. Legal news
    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 ...

  5. Legal news
    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.

  6. 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)

  7. Legal news
    29 May 2019
    ICO: Legal Classification of Tokens: part 3 - Currency Token
    www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens-3

    Part 3/5 - Currency Token: Currency Token, also called cryptocurrency, are the origin of token. The most well-known example for a coin is Bitcoin. Other examples of Currency Token are Ethereum (or Ether) and Ripple

  8. Legal news
    06 August 2019
    Implementation of the fifth Anti-Money Laundering Directive: German Federal Government publishes legislative proposal
    www.twobirds.com/en/news/articles/2019/germany/umsetzung-der-fuenften-geldwaescherichtlinie-in-deutschland_gesetzentwurf

    In the legislative proposal to implement the fifth European Anti-Money Laundering Directive, Germany’s federal government proposes many amendments compared to the initially published first draft proposal by the Ministry ...

  9. 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 ...

  10. Legal news
    13 September 2019
    ECJ Decision: The end of the Germany’s darling SEPA direct debit?
    www.twobirds.com/en/news/articles/2019/germany/eugh-urteil-das-ende-der-lastschrift

    The ECJ ruled on 5 September 2019 (Case C-28/18) that the acceptance of payments via SEPA direct debit by companies shall not be made conditional to the customer's place of residence.