Tag Archives: PSD2

FCA Regulation round – up for August

This month’s edition of Regulation round-up discusses: the consultation to extend SM&CR to all financial services firms; the Threshold Conditions Team taking enforcement action and cancelling the authorisations of 207 firms; FCA’s agenda and priorities for consumer credit; contingency planning for firms that do not have their MIFID II permissions in place by 3 January […]

EBA releases CP on fraud reporting requirements under psd2

The EBA’s Consultation Paper on the Guidelines on Fraud Reporting under PSD2 (EBA/CP/2017/13)  has been developed  in close cooperation with the European Central Bank (ECB) to ensure that the high-level fraud reporting requirements under Article 96(6) of the PSD2 are implemented consistently among Member States and that the aggregated data provided by competent authorities  to the […]

EBA publishes final guidelines on major incident reporting under PSD2

The Guidelines set out: the criteria, thresholds and methodology to be used by payment service providers in order to determine whether an operational or security incident should be considered major and, therefore, be notified to the competent authority in the home Member State the template that payment service providers are required to use for this […]

FCA Regulation Round-Up for July

The FCA published its July edition of Regulation Round-Up this week.  Highlights of some of the “hot topics” covered include: interim report of the FCA’s Retirement Outcomes Review; the publication of the final report on its asset management market study; the publication of the MiFID II policy statement and consultation paper VI; first undertaking received under […]

Government to outlaw payment surcharging

The Government’s approach is set out in their response to its consultation on the implementation of PSD2. Taking into account the range of views received through the consultation, the Government has decided to extend the surcharging ban to all retail payment instruments. This will create a level playing field between payment instruments and create a […]

HMT responds to its PSD2 consultation – Third Party Access

On 9 February 2017, the government published a consultation document, ‘Implementation of the revised EU Payment Services Directive II’, as well as draft legislation. The consultation invited responses on the government’s proposed approach to transposing PSD2 into UK law. The government received over 85 formal responses to the consultation. This response document summarises the content of these […]

FCA consultation on PSD2 authorisation and reporting forms

The FCA has issued a second consultation paper on the implementation of PSD2. This follows one previous consultation paper issued in April 2017, which proposed a general approach to the changes incurred by PSD2. The scope of the current consultation includes new authorisation and registration forms to be used by payment and e-money institutions, as well […]

eba publishes final report on PSD2 Guidelines for authorisation and registration

The EBA has published  its Final Report on the EBA Guidelines under Directive (EU) 2015/2366 (PSD2) on the information to be provided for the authorisation of payment institutions and e-money institutions and for the registration of account information service providers.

EACB, ESBG and EBF (the ‘Group’) make joint request to European parliament on the issue of third party interaction under psd2 and the need to reject ‘screen-scraping’

In a press release released today, the Group raised the issue: “how to organise efficient and future proof bank – third party (TPP) interaction under PSD2“. The Group made it clear that “imposing an upgraded screen scraping is contradicting all of these objectives and should be rejected to the benefit of consumer protection, innovation and […]

EBA publishes final PSD2 PII guidelines

EBA has published the final guidelines under PSD2 on how to stipulate the minimum amount of PII cover or a comparable guarantee that undertakings intending to carry out payment initiation services or account information services should hold. EBA has made some changes from the consultative version of the guidelines. The guidelines cover: the risk profile […]