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...
On January 7, 2019, the European Banking Authority (EBA) released a report, jointly drafted by the European supervisory authorities (ESAs), in relation to the various initiatives taken by many...
European authorities have called for greater cooperation on sandboxes between member states, citing a risk of regulatory arbitrage and warning national fragmentation could harm fintechs’ attempts...
Thanks to a barrage of regulatory reforms brought in over the past year, 2019 is poised to be a challenging year for European payments firms. Banks are under intense pressure to complete the...
The prospect of a no-deal Brexit has left EU firms passporting into the UK facing an uncertain future, with recent contingency measures from Brussels leaving payments firms out of scope.
European Union member states have agreed to allow the bloc’s banking regulator to sanction financial institutions directly for anti-money laundering breaches if competent national authorities fail...
New European Banking Authority guidance has helped clear up “confusion” around how the EU electronic identification regime will work for third-party providers gaining access to customers’ accounts.
Payments and e-money institutions in the UK have been left in the lurch by the political impasse over Brexit and the looming possibility of exiting the EU without a negotiated agreement, according...

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