On June 22, 2018, the European Banking Authority (EBA) launched a consultation paper on draft guidelines on outsourcing arrangements, with the aim of updating the existing Committee of European...
Europe’s top financial regulator has instructed payment firms to take extra caution when outsourcing to third countries, citing risks of regulatory arbitrage and the potential exploitation of...
European Commission vice president Valdis Dombrovskis has threatened further regulatory intervention if banks’ strategies for the revised Payment Services Directive (PSD2) cause “a decline in the...
Danske Bank’s €200bn money laundering scandal continues to escalate, with European authorities launching a probe into Estonia and Denmark’s handling of the affair just as the company pulls the plug...
The European Council has finalised its position on a raft of reforms around supervision of the union’s financial sector, including a proposal to expand the remit of the bloc’s top banking and...
A senior European Central Bank (ECB) official has re-emphasised that banks must embrace the EU’s third-party account access regime, as it forges ahead with the creation of a new credit transfer...
The European Banking Authority (EBA) has defended its record on level three payments legislation after being accused by an MEP of “attempting to change a directive ... that turned out not be to its...
The prospect of a no-deal Brexit is piling pressure on UK financial firms that have customers in other EU member states, as difficult decisions arise over how and when to update their contracts.
European authorities have clarified that banks do not have to make whitelists of trusted payees visible or editable to third-party providers under incoming EU-wide security rules.
A major EU review into the bloc’s financial supervision system has been split, after officials opted to prioritise the anti-money laundering (AML) proposals by sending them ahead for parliamentary...
Despite substantial work from two top EU regulators on crypto-assets, legal experts believe the likelihood of a new, all-encompassing legal framework for the technology is low.
On January 10, 2019, the European supervisory authorities (ESAs) approved the content of a multilateral agreement for the exchange of information between the European Central Bank (ECB) and all...
Payments and e-money firms in the European Economic Area (EEA) that do not gain temporary permission to continue operating in the UK after a no-deal Brexit would be saved from having to ditch...
Consumer hesitancy and confusion about the rapid pace of technological and regulatory change in the payments sector has dominated the UK regulator’s annual overview of the industry.
On January 9, 2019, the European Banking Authority (EBA) published a report on crypto-assets, which includes the results of its assessment of the applicability and suitability of EU law on crypto...
The EU’s top payments regulator has recommended that the European Commission considers further reforms for crypto-assets, warning that some activities are “highly risky” yet fall outside existing...

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