Tag Archives: RTS
Following the first meeting of the EBA Working Group on APIs under PSD2, the EBA has published the first set of issues identified and consequent clarifications. The issues relate to the testing environment mandated by the SCA RTS, technical specification transparency and the identification of qualified trust service providers issuing PSD2 eIDAS certificates.
The Commission has published the final form of RTS under MLD4 aimed at better and more consistent measures in approaching ML/TF risk where credit or financial institutions have a presence in a third country whose laws do not permit group-wide policies. The RTS set the ideal minimum standards groups should attain, and how they should […]
FCA is consulting on how it proposes to make technical standards which are substantially the same as the PSD2 SCA RTS to ensure strong customer authentication and common and secure open standards of communication post-Brexit. FCA comments that some of the SCA-RTS take effect from 14 March 2019 and others not until 14 September. In […]
In September 2018, the FCA consulted on new or amended rules, directions and guidance to implement the Regulatory Technical Standards for strong customer authentication and common and secure open standards of communication; new fraud reporting requirements; and draft EBA exemption guidelines. The FCA has now published its policy statement, setting out the revised Payment Services and […]
The EBA has published final Guidelines on the exemption from the fall back mechanism requirement under the RTS on Secure Customer Authentication and Common and Secure Communications (Commission Delegated Regulation (EU) 2018/389) (SCA & CSC RTS). This exemption applies to account servicing payment service providers (ASPSP) who meet the four conditions sets out in the […]
Commission Delegated Regulation (EU) 2018/1108 has been published in the OJ. This Regulation sets out RTS relating to the criteria for determining when it may be appropriate to require electronic money issuers and payment service providers who have certain cross-border operations to appoint a central contact point for a particular territory. The RTS also address the […]
The EBA has published a consultation on draft Guidelines supplementing the Regulatory Technical Standards on strong customer authentication published in the OJ in March 2018, and applicable from September 2019. Article 33(6) of the RTS set out the conditions that must be met when an Account Servicing Payment Service Provider (ASPSP) wishes to provide access […]
The EBA has written to the European Commission following the Commission’s adoption of the RTS on strong customer authentication under PSD2. The EBA welcomes the adoption, appreciates the note the Commission took of some of EBA’s concerns and says it appreciates the Commission’s decision not to take note of some others. However, it questions why […]
The European Commission has finalised the RTS for procedures excluding transactions with NFCs established in third countries for the purposes of the own funds requirement for credit valuation adjustment risk. The RTS require institutions to verify the status of the counterparty at trade inception and thereafter annually, unless there is any reason to believe the […]
The European Commission has finally adopted the RTS under PSD2 on strong customer authentication (SCA) and common and secure open standards of communication. The key purpose of the RTS is to create stringent security procedures to reduce payment fraud levels and protect confidential data. The key requirement is for at least two independent elements in […]
Background A corrigendum to Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 supplementing Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) by laying down regulatory technical standards (RTS) with regard to the presentation, content, review and revision of key information documents and the conditions for fulfilling […]
EBA has published its final draft RTS on information applications to be credit institutions should provide to competent authorities, and the templates they should use to provide it.
ESMA has today updated its Q&A topics on best execution and recording of telephone conversations and electronic communications. Best execution MiFID II requires investment firms to take all sufficient steps to obtain the best possible result for the client when executing orders. It also requires trading venues to publish, without charge, data on the quality of the […]
The ESAs have published draft RTS to help Member States work out when PSPs and E-money issuers should appoint a “central contact point” to help effective AML oversight of the activities of their networks in “host” Member States.
ESMA is consulting on its draft technical standards specifying the trading obligation for derivatives under MiFIR. It has revised its previous approach, and now wants comments by 31 July on the new proposals. These include how to phase-in the trading obligation. The MiFIR trading obligation is closely linked to EMIR. Once a class of derivatives needs […]
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 […]
The ESAs are consulting on RTS for firms in groups straddling the EU and third-countries, where the law of a third country prevents the implementation of group-wide AML/CTF policies in branches or majority-owned subsidiaries. Consultation closes on 11 July. The ESAs propose that firms must: at least assess the ML/TF risk to their groups and […]
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 […]