Author Archives: Angie Bamboulis

EBA: Overview of PSD2 national transposition projects and new reports

The EBA recently published a table which includes key questions around the Payment Services Directive 2 (PSD2) transposition activities and dates of the different EEA countries. In addition, the EBA has announced the release of two new publications in its ongoing series of working group papers, dealing with PSD2 and distributed ledger technology (DLT) driven opportunities for new […]

The Consumer Protection Partnership Update Report for 2017

The Department for Business, Energy & Industrial Strategy has published a report by the Consumer Protection Partnership (CPP), identifying and prioritising areas where there is greatest harm caused to consumers and setting out the actions taken by the members of the CPP. In 2016 the CPP identified scam calls, digital and online markets, secondary ticketing, and consumer […]

ABI comments on the impact of the GDPR on innovation in insurance

On 12 October 2017, the Association of British Insurers (ABI) published a blog on the impact of the GDPR on innovation in insurance. The ABI discusses a recent study on “Harnessing Innovation in European Insurance” undertaken by an independent research company, PAC, and BAE Systems. The study reports that “only one third of European insurers believe themselves to […]

EBA’s Opinion on the UK’s departure from the EU

On 12 October 2017, the European Banking Authority (EBA) published an Opinion on issues relating to the UK’s departure from the European Union (EU). The Opinion is focused on the period prior to the departure of the UK. The purpose of the Opinion is to provide guidance on supervisory expectations and to address regulatory and supervisory […]

FSB’s workplan for 2017/2018

On 6 October 2017, the Financial Stability Board (FSB) published its workplan, setting out the following areas of work for the remainder of 2017 and 2018: evaluating the effects of reform – the plenary agreed that the FSB, in coordination with the relevant standard-setting bodies, will undertake an evaluation of the effects of reforms on financial […]

PSD2 and Open Banking – bringing opportunities for start-ups

In an Insight article published on 28 September 2017, the FCA explores the opportunities that the Payment Services Directive 2 (PSD2) and Open Banking may bring for start-ups. PSD2 is changing the rules for the banking industry. From January 2018, UK banks will have to provide details of customer transactions to any authorised organisation that a customer approves […]

Bank of England expects 130 licence applications before Brexit

Comments made by Sam Woods, Chief Executive Officer of the Prudential Regulation Authority (PRA) were reported in an article published by Reuters, in which he stated that the Bank of England expects at least 130 financial firms from across Europe to apply for licences to continue operating in the UK after Brexit. He also commented that […]

ESAs report on risks and vulnerabilities in the EU financial system

On 21 September 2017, the Joint Committee of the European Supervisory Authorities, published its September 2017 report on risks and vulnerabilities in the EU financial system, identifying Brexit and FinTech as two of the main risks to the EU financial system. Brexit: The UK’s decision to withdraw from the EU and the uncertainties around the […]