As Portugal’s economy continues to show signs of recovery, the country’s payment system is being transformed, driven by the transposition of the revised Payment Services Directive (PSD2) and the EU...
The Payment Systems Regulator (PSR) has published the finalised version of its Specific Direction 10 (confirmation of payee), by means of which it requires members of the UK’s six largest banking...
On May 9, 2019, the Payment Systems Regulator (PSR) initiated a follow-up consultation on confirmation of payee (CoP), including its revised approach alongside the legal text of the proposed...
The Financial Conduct Authority (FCA) has issued a policy statement on crypto-assets, responding to industry confusion in the UK over the fine line between unregulated cryptocurrencies and...
On July 30, 2019, the Bank of Italy published provisions on the subject of adequate customer verification to combat money laundering and terrorist financing with the aim of implementing the 4th...
As bank de-risking continues to plague the worldwide financial system, U.S officials are encouraging regulated institutions to assess risk on a case-by-case basis, rather than making blanket...
On July 26, 2019, the Australian government launched a public consultation on the Currency (Restrictions on the Use of Cash) Bill 2019, which, as noted in the explanatory memorandum, introduces...
On July 26, 2019, the European Credit Sector Associations (ECSAs), the European Third Party Providers Association (ETPPA) and the Financial Data and Technology Association (FDATA) issued a joint...
The European Commission has thrown its weight behind a move to make EU anti-money laundering (AML) regulation directly applicable in member state law as it lashed member states for fumbling...
On July 23, 2019, the Malta Financial Services Authority (MFSA) announced by way of a circular that the Financial Intelligence Analysis Unit (FIAU) has published revisions to the Implementing...
On July 23, 2019, the Ministry of Finance published an inter-ministerial committee report, along with the draft Banning Cryptocurrency and Regulation of Official Digital Currency Bill 2019. A high...
On July 23, 2019, the Financial Conduct Authority (FCA) released a draft guidance paper on the fair treatment of vulnerable customers, aiming to provide clarity on its expectations regarding the...
The UK’s payment system operator, Pay.UK, is preparing for a more central role in fighting economic crime, but even after the government’s new plan revived commitments for its future operations...
Hong Kong’s financial regulator said it will adjust rules governing prepaid money providers, following a review of the sector’s vulnerability to money laundering and terrorist financing.
The independent complaints commissioner for the UK’s financial regulators has excoriated the Financial Conduct Authority (FCA) for myriad failings in handling complaints from regulated businesses...
The UK government has announced that it is considering the approach to financial regulation at the macro level in the country, calling for views on the roles of the various regulators as it...

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