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Regulatory Technical Standards (RTS)
MEP Accuses Top Regulator Of ‘Favouring Banks’ In PSD2 Guidelines
7th Feb 2019 | Written by:
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...
UK: Open Banking Implementation Entity Issues Operational Guidelines and Checklist
1st Feb 2019 | Written by:
On February 1, 2019, the Open Banking Implementation Entity (OBIE) published its Operational Guidelines and accompanying Checklist, with the aim of providing clarification and recommendations to...
Industry Points To TPP-Shaped Hole In Push Payment Fraud Code
29th Jan 2019 | Written by:
Banks in the UK have called on regulators to make clear how payment initiation service providers will fit into the upcoming voluntary industry code on thwarting authorised push payment (APP) fraud.
PSD2 'Whitelists' Not Open To Third Parties, European Commission Says
28th Jan 2019 | Written by:
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.
Europe: ENISA Publishes Study on Commonalities Between Member States' Approaches to Risk Management and Incident Reporting under PSD2
24th Jan 2019 | Written by:
On January 24, 2019, the European Agency for Network and Information Security (ENISA) released a study regarding good practices in the implementation of regulatory technical standards in the field...
Consumers Sceptical About Data Sharing Under Open Banking, FCA Says
11th Jan 2019 | Written by:
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.
UK Responds To Open Banking Criticisms, Promises Harmonised User Experience
3rd Jan 2019 | Written by:
As hundreds of fintechs and banks line up to take advantage of the UK’s third-party account access regime, the group behind the country’s open banking project has announced plans to ensure the end...
European Outlook 2019: Regulatory Trends And Industry Issues
2nd Jan 2019 | Written by:
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...
UK: FCA Consults on UK-Wide Regulatory Technical Standards for Strong Customer Authentication in Case of No-Deal Brexit
20th Dec 2018 | Written by:
On December 19, 2018, the Financial Conduct Authority (FCA) launched consultation paper 18/44, by means of which it is seeking feedback on the proposed regulatory technical standards for strong...
In Depth: FCA Issues Policy Statement On PSD2 Security Standards
20th Dec 2018 | Written by:
The UK’s Financial Conduct Authority (FCA) has finalised its approach to incoming payment services security standards, responding to uncertainties around third-party account access, strong...
Regulator Guidance On PSD2 And eIDAS Helpful, Says Industry
19th Dec 2018 | Written by:
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.
PSD2: Authorities Step In As Banks Race To Meet API Deadlines
17th Dec 2018 | Written by:
Europe’s top banking and payments regulator will lead a new working group to support firms developing application programming interfaces (APIs) in line with “demanding” third-party access rules.
Card Payments 'Never Initiated By Payee', EU Officials Hint
12th Dec 2018 | Written by:
EU authorities appear unlikely to accept that card payments can be “initiated by the payee” in some situations, potentially causing an authentication headache for some online platform businesses.
EBA Issues Opinion on Use of eIDAS Certificates under the RTS on SCA and CSC
11th Dec 2018 | Written by:
On December 11, 2018, the European Banking Authority (EBA) published an opinion on the use of certificates with regard to Regulation (EU) No. 910/2014 of July 23, 2014 on electronic identification...
UK: PSR Signs Memorandum of Understanding on Monitoring the Interchange Fees Regulation
7th Dec 2018 | Written by:
On December 6, 2018, the Payment Systems Regulator (PSR) announced the signing of a memorandum of understanding (MoU), demonstrating its coordinated approach with other European Union authorities...
Europe: EBA Finalises Guidelines on Exemption from the Contingency Mechanism under the RTS on Strong Customer Authentication
4th Dec 2018 | Written by:
On December 4, 2018, the European Banking Authority (EBA) published final guidelines on the conditions that account servicing payment service providers (ASPSPs) must meet to be exempted from the...
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