After finding “significant shortcomings” in firms’ compliance with rules on safeguarding customer funds, UK regulators have instructed payment and e-money firms to carry out an urgent review of...
On July 3, 2019, the Council of Ministers introduced before parliament a bill including amendments and additions to the Law on Measures against Money Laundering. This law was adopted in March 2018...
UK authorities have vowed to look “beyond the hype” around stablecoins, and Facebook’s Libra project in particular, ensuring instead that crypto firms providing payment or e-money services are...
On July 1, 2019, the Bank of Spain launched a consultation on Circular xx / 2019, of xx on the publicity of products and banking services, developing the rules, principles and criteria to which...
The Swedish government (Regeringskansliet) has published a memorandum containing proposals for strengthening consumer protection when payment services are provided....
On June 28, 2019, the European Payments Council (EPC) published a consultation on electronic invoice presentment and payment (EIPP): ISO 20022 Business Justification and Message Definition Report....
The Reserve Bank of India has brushed aside pleas from global payments giants and pushed ahead with strict controls over data storage, despite suggestions from the government that it was...
Firms in Malta continue to under-report suspect transactions, the country’s financial investigators have said, despite a doubling in the number of suspicious transaction reports received over the...
UK regulators are upping pressure on regulated payments businesses that incorporate unregulated crypto-assets into their product offering — but industry groups believe that distinction is not yet...
On September 5, 2018, Regeringskansliet, the Swedish Government Offices, published a proposal for the implementation into Swedish national law of the 5th Anti-Money Laundering Directive (Directive ...
The Bank of England’s decision to open up overnight deposits to non-banks has been welcomed as an embrace of innovation, but marks a recognition that an explosion in the use of specialist payment...
Federal initiatives on regulating fintech in the United States are continuing to progress slowly, with no firms yet signed up to a country-wide licensing programme and discussions still ongoing on...
On December 14, 2018, EMVCo, in line with its vision to facilitate worldwide interoperability and acceptance of secure payment transactions, released an updated version of the EMV® 3-D Secure (3DS)...
UK e-money firms have raised “serious concerns” about incoming restrictions on anonymous prepaid cards issued outside the EU, warning the government over the compliance burden that will fall on the...
On March 27, 2019, the Malta Financial Services Authority (MFSA) launched, in cooperation with the Financial Intelligence Analysis Unit (FIAU), a public consultation regarding guidance for credit...
Indian officials have agreed to reconsider controversial rules that payments-related data can only be stored within the country, after businesses restated their opposition in a recent government...

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