The head of Facebook’s controversial cryptocurrency project has said “intense” regulatory pressure prompted Visa and Mastercard to withdraw from the Libra Association, on the eve of its inaugural...
On October 9, 2019, the government approved the bill amending Act No. 297/2008 Coll. on protection against money laundering and financing of terrorism as well as amendments of certain acts. The...
The UK government has rejected proposals to allow the Financial Conduct Authority (FCA) freedom to expand its regulatory scope when required, despite suggestions it lacks the power to ensure...
The Financial Conduct Authority (FCA) has issued a stern warning to payment and e-money institutions over “unacceptable” practices in safeguarding client funds, as well as around risk governance...
On October 8, 2019, the government published a no-deal readiness report. As the country prepares to leave the European Union on October 31, 2019, the document describes changes if the UK leaves...
On July 23, 2019, the Financial Conduct Authority (FCA) released a draft guidance paper on the fair treatment of vulnerable customers, aiming to provide clarity on its expectations regarding the...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 EU’s top financial supervisors have urged member states to boost their supervision and understanding of payment and e-money institutions in light of the sectors’ persistent vulnerability to...
On October 4, 2019, the Finnish government announced it had approved a decision on the Cybersecurity Strategy 2019. The strategy is based on the Cybersecurity Strategy 2013 and its purpose is to...
Cross-border investigations triggered by suspicious transaction reports from European financial institutions could be crippled by advice that the system used to share the filings is illegal.
The Danish Financial Supervisory Authority (FSA) has launched a consultation on amendments to the Payments Act, to allow the Competition and Consumer Authority to intervene if fees on direct debit...
Financial institutions headquartered in Europe but operating elsewhere face “significant” consequences if they do not identify conflicts between EU laws on anti-money laundering (AML) and those in...
Payment services giant PayPal has succeeded in its long-running attempts to crack China’s booming payments market by acquiring a licensed local firm, in what it said is a world-first for a foreign...
French regulators have handed a €1m fine to e-money firm Prepaid Financial Services after an on-site inspection uncovered several failings in its anti-money laundering controls.
On September 30, 2019, the presidency of the Council of Ministers approved Decree Law no. 147/2019, containing a package of contingency measures to be put in place in the event of the UK departure...
On September 30, 2019, UK Finance announced the “Community Access to Cash Initiative”, which aims to help local communities secure access to cash and payment facilities. The initiative recognises...
On September 26, 2019, the central bank of Brazil (BCB) published Resolution no. 4.752, which amends certain sections of Resolution no. 4.658 from April 26, 2018, applicable to authorised...

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