The General Data Protection Regulation (Regulation 2016/679), also known as GDPR, will significantly increase the responsibilities and obligations for payments businesses in how they collect and...
After nearly two years of political wrangling and fraught negotiations the EU has formally approved the 5th Anti-Money Laundering Directive (5th AMLD), giving member states until late next year to...
On April 20, 2018, the National Audit Office (NAO), which is in charge of scrutinising public spending, released the “Exiting the EU: The financial settlement” report. The report reviews the...
The revised Payment Services Directive (Directive (EU) 2015/2366), also known as PSD2, has brought a set of obligations for the European Commission, the European Banking Authority (EBA), EU member...
On August 10, 2017 the French government published a report which had been sent to the President on Ordinance 2017-1252 of August 9, 2017 transposing the revised Payment Services Directive (PSD2)...
Suggestions that some institutions might opt not to build a fallback access interface for third-party providers — a controversial feature of incoming EU security rules — have given rise to...
Last-gasp changes to EU security rules have left account providers with a dilemma: whether to channel resources into building a top quality application programming interface (API); or split...
On April 16, 2018, the Article 29 Working Party (WP 29) released its revised guidelines on consent under the GDPR, providing a thorough analysis of the conditions to be met for obtaining and...
The Ministry of Justice has introduced a draft law, the Law on Personal Data Processing, which will implement the General Data Protection Regulation (GDPR) in Latvia....
New European regulations on data security should not be viewed as a compliance exercise but as a push towards best practice, according to both regulators and industry insiders.
On April 12, 2018, the Joint Committee, comprising the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions...
Influential industry figures in the UK have raised the alarm over the possibility of open banking innovations making it easier for fraudsters to gain access to victims’ payment accounts.
On March 26, 2018, the law transposing the prudential parts of PSD2 into Belgian national legislation was published. The transposition process of the PSD2 conduct of business rules is still...
On April 10, 2018 the European Commission brought together ministers, representatives, industry, academia and civil society representatives from member states for Digital Day 2018, where...
Poland has effectively pre-empted incoming EU rules on e-money and virtual currency, bolstering its overdue implementation of the 4th Anti-Money Laundering Directive with tough controls on prepaid...
On April 10, 2018 the European Commission and the European Investment Fund (EIF) launched a Pan-European Venture Capital Funds-of-Funds programme (VentureEU) to boost investment in innovative...

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