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Fed Official: Correspondent Banking Slowdown Challenging Cross-Border Payments
14th Jan 2020 | Written by:
As cross-border payments continue to grow, the decline in correspondent banking relationships driven by de-risking concerns remains a significant challenge for the sector, according to the U.S....
PSD2: Tracking the Implementation at EU and Country Levels
7th Jan 2020 | Written by:
PSD2 entered into force on January 13, 2018 repealing Directive 2007/64/EC (PSD1). The revised Payment Services Directive (Directive (EU) 2015/2366), also known as PSD2, introduced new obligations...
Spain: Government Completes Transposition of PSD2
24th Dec 2019 | Written by:
The Ministry of Economy and Business has published Royal Decree 736/2019, of December 20, on the legal regime of payment services and payment entities, which modifies Royal Decree 778/2012, of May...
Cross-Border EU Firms Set For Closer Supervision
17th Dec 2019 | Written by:
Authorised payment service providers established in three or more EU member states will be subject to supervision by a club of regulators from each jurisdiction, under new guidelines that come into...
Sweden Presses Ahead On E-Krona Plans
16th Dec 2019 | Written by:
Sweden’s central bank has launched a project to begin testing a central bank digital currency (CBDC), as it presses ahead with exploration of an e-krona.
Lithuanian Regulator Pilots Direct Plug Into Firms' Data
13th Dec 2019 | Written by:
The Bank of Lithuania has launched a pilot to test automatic regulatory reporting by firms to replace “time-consuming” and costly manual filing.
Big Tech Posing Big Questions To Regulators, FSB Finds
9th Dec 2019 | Written by:
The body dedicated to monitoring the stability of the global financial system has urged regulators to monitor closely the impact of technology giants on financial services and cooperate on the...
FCA Yet To Clinch No-Deal Brexit Agreements With European Regulators
15th Oct 2019 | Written by:
UK payments and banking regulators have yet to clinch agreements designed to mitigate the damage of a no-deal Brexit with several EU member states, despite the possibility of the UK hurtling out of...
Pakistan: Parliament Passes Anti-Money Laundering (Amendment) Bill 2019
8th Oct 2019 | Written by:
On September 30, 2019, the National Assembly approved a bill to enhance penalties and sanctions for money laundering. The Anti-Money Laundering (Amendment) Bill 2019 aims to restructure the...
Mexico Touts 'Request To Pay' As Boost For Financial Inclusion
30th Sep 2019 | Written by:
Mexico’s “request to pay” infrastructure is set to launch today, carrying with it hope from authorities that this latest step on the country’s road to payments modernisation will help nudge...
Netherlands: Ministry of Finance and Ministry of Justice and Security Consult on Implementation Decision to Implement 5th AMLD
27th Sep 2019 | Written by:
On September 26, 2019, the Ministry of Finance and the Ministry of Justice and Security published a consultation on the implementation decision on amendments to the 4th Anti-Money Laundering...
Bulgaria: Ministry of Finance Consults on Draft Law on Amendments and Supplementing Law on Payment Services and Payment Systems
24th Sep 2019 | Written by:
On September 20, 2019, the Bulgarian Ministry of Finance published a consultation on the Draft Law on Amendments and Supplementing Law on Payment Services and Payment Systems (LPSPS). The draft law...
Russia: Central Bank Consults on Draft Ordinance on Amendments to Ordinance of July 20, 2016, No. 4078-U
23rd Sep 2019 | Written by:
On September 20, 2019, the Central Bank of the Russian Federation (CBR) launched a consultation on a draft ordinance “on amendments to the CBR Ordinance July 20, 2016 No. 4078-U 'on requirements...
Vietnam: State Bank Issues Draft Decree Amending and Supplementing Decree on Preventing Money Laundering
16th Sep 2019 | Written by:
On September 13, 2019, the State Bank of Vietnam published a draft decree amending and supplementing Decree No. 116/2013 / ND-CP dated October 4, 2013, detailing the implementation of a number of...
U.S. Lawmaker Questions Legality Of Fed's Real-Time Payments Proposal
16th Sep 2019 | Written by:
A new real-time payment system being developed by the Federal Reserve Bank has garnered opposition from some members of the U.S. Congress who believe a payments system should be built and managed...
Germany: TIBER-DE Test Programme to Make Financial System Safer
13th Sep 2019 | Written by:
The Federal Ministry of Finance (BMF) announced in a joint press release with the German Federal Bank (Deutsche Bundesbank) the decision to set up a programme with TIBER-DE to strengthen the cyber...
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