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Cooperation and Information Exchange Between Competent Authorities Supervising Credit and Financial Institutions
10th Jan 2020 | Written by:
New guidelines apply from January 10, 2020 for the cooperation and exchange of information between EU member states’ competent authorities for credit and financial institutions. This analysis...
2019 In Focus: Payments In Europe
20th Dec 2019 | Written by:
Contention over the finer points of new payments regulation continued to rage in Europe, with industry and regulators clashing over issues with new strong authentication requirements and the...
U.S. Fed Governor Latest to Take Aim At Embattled Libra Project
19th Dec 2019 | Written by:
A top U.S. Federal Reserve official warned this week that Facebook's planned Libra cryptocurrency could present "a number of risks" to consumers and the financial system — adding to the chorus of...
UK Regulator Unveils Open Finance Vision
18th Dec 2019 | Written by:
The UK’s financial regulator has released its vision of an open finance regime, in which the role of third-party providers would be retained from open banking and regulatory interventions be...
UKFIU: SARs Annual Report 2019
17th Dec 2019 | Written by:
The UK Financial Intelligence Unit (UKFIU) has published its 2019 annual report on suspicious activity reports (SARs), as well as the third edition of its "SARs In Action" publication addressed to...
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...
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...
Israel To Mandate Open Banking Despite Political Deadlock
6th Dec 2019 | Written by:
After months of political deadlock, Israel’s banking regulator has taken up the mantle of open banking, announcing it will require banks to provide fintechs with access to customers’ accounts.
ECB Tells Industry To Build New Continent-Wide Payment Scheme
27th Nov 2019 | Written by:
The European Central Bank (ECB) has thrown its weight behind the creation of a new continent-wide payment system for both retail and e-commerce, warning that reliance on global financial giants...
Open Banking Deadline Delay Not Necessary, Says EBA
25th Nov 2019 | Written by:
The European Banking Authority (EBA) has acknowledged there were “teething problems” around the introduction of third-party account access reforms, but said the fragmented picture across the...
U.S. Lawmakers Urged To Ban Screen Scraping For Financial Data
22nd Nov 2019 | Written by:
U.S. fraud experts and consumer rights advocates have urged lawmakers not to let screen scraping form part of any open banking initiative, calling for laws to be extended to ensure the introduction...
Free Range Fintechs Pose Open Banking Supervision Risks
20th Nov 2019 | Written by:
Regulators must be wary of the risks posed by banks providing account access to unregulated fintechs as open banking models take shape, an influential group of central banks has warned.
FCA To Consult On Expanded 'Open Finance' Regime
19th Nov 2019 | Written by:
The UK’s Financial Conduct Authority (FCA) will launch consultations on an “open finance” framework later this year, as the regulator looks to extend open banking beyond only payment accounts.
First Fraud Patterns Emerge As UK's Open Banking Project Gains Ground
14th Nov 2019 | Written by:
As the UK’s first open banking offerings start to gain consumer traction, fraudsters are already beginning to move into the space — pressuring banks to find out new ways of stopping them.
EU: Practical Guide: EBA Q&A on PSD2
11th Nov 2019 | Written by:
The European Banking Authority's (EBA) single rulebook Q&A contains information on various regulations and directives to ensure consistent and effective application of the new regulatory...
European Banking Authority Blasts Attempts To Skirt PSD2
7th Nov 2019 | Written by:
European authorities are investigating efforts by banks to thwart account access for fintechs mandated by the EU’s revised Payment Services Directive (PSD2), with plans to call on national...
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