Tag Archives: PSD2

Commission to amend PSD2 RTS

The Commission has written to the EBA explaining why it plans to amend the draft RTS under PSD2 on customer authentication and standards of communication. The key areas of change are: to ensure statutory audit of the risk analysis methodology; a new exemption to the application of strong customer authentication for certain corporate payments which […]

EP adopts Fintech resolution

The EP has adopted a resolution on the influence of technology on the financial sector. The provisional version of the resolution focuses on the rapid development of applications of fintech technologies and notes that some may become of systemic importance. It looks at the benefits and risks of the developments and notes that some applications […]

PSD2 and Open Banking

We have written an article for Compliance Monitor on PSD2 and Open Banking, looking specifically at the role and future regulation of third party payment service providers.

EBA publishes PSD2 authentication RTS

On 23 February, EBA published its final draft RTS on strong customer authentication and common and secure communication under PSD2. EBA heralded the publication as having had to address “difficult trade-offs between the various, at times competing, objectives of the PSD2”. It received a huge number of responses to its consultation, which identified around 300 […]

EBA speaks on PSD2

At the same payments conference at which BoE spoke, Andrea Enria, Chair of EBA, spoke of EBA’s work on PSD2, specifically the technical standards it needs to produce. He noted there are 11 technical standards and guidelines to be produced, and that EBA has already consulted on over half of these. The most controversial is […]

Treasury consults on PSD 2 implementation

Treasury is consulting on draft legislation to implement PSD 2 into UK law. The Government wants to finalise the legislation as early in 2017 as possible to give industry as much time as possible to make changes. The Government will, as usual, continue to work to implementation of all relevant EU measures and in principle, […]

Retail banking market investigation: CMA publishes responses to draft order

The CMA has published responses to the publication of its draft order following the retail market investigation. The responding institutions include: Dansk Bank HSBC Information Commissioner’s Office Santander Tesco Which Some of the concerns raised in the responses address the proposal to introduce a monthly maximum charge in respect of unauthorised overdraft charges, the definition of […]

CMA publishes draft Order following retail banking market investigation

In August 2016 the CMA published the report on its market investigation into the supply of retail banking services. Following the proposals of that Report, the CMA has published a draft Retail Banking Market Investigation Order 2017 which includes measures that seek to drive the market towards ‘Open Banking’: using technology to provide customers with more control over their […]