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...
On September 9, 2019, Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has published Circular No. 1049/ 2019 on the rules and regulations on the registration of operators of...
The Financial Markets Authority (FMA) has issued a press release stating that the government will introduce a new regime to regulate financial conduct, with the aim of providing customers with...
On September 25, 2019, the French Prudential Supervision and Resolution Authority (ACPR) published a report from the Anti-Money Laundering and Terrorist Financing Policy Board (COLB), which...
On September 23, 2019, the National Institute for Transparency, Access to Information and Protection of Personal Data (INAI) published Communication INAI/344/19, which states that the country's...
The Ministry for General Government Affairs and Finance has published the approved amendment to Annex 3 of the Due Diligence Ordinance (Law Gazette No. 2019/232). The amendment includes the...
On September 20, 2019, the Ministry of Finance published an agreement titled "Strengthening the Possibilities for Intervention on Fees for Payment Services", which allows the minister of business...
On September 23, 2019, the French Prudential Supervision and Resolution Authority (ACPR) released a report from a working group called “Forum Fintech ACPR-AMF”, made up of representatives of...
Research by consultancy giant McKinsey has suggested the pressure on payments firms to achieve scale has driven a recent wave of consolidation, but said that commercial drivers are running up...

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