Joint Committee of ESA’s final guidelines under revised Wire Transfer Regulation

The Joint Committee of the European Supervisory Authorities (ESA) has published its final guidelines under the Wire Transfer Regulation (Regulation (EU) 2015/847) in each of the official languages of the EU.

The guidelines were first published in September 2017 and include measures that payment service providers should take to detect missing or incomplete information on the payer or the payee; and the procedures that should be in place to manage a transfer of funds lacking the required information. The guidelines will be effective from July 2018.