Australia’s central bank is considering a ban on buy now, pay later (BNPL) providers preventing retailers from surcharging customers, as it sketches the outline of a major review of the country’s...
On July 3, 2018, the Romanian Ministry of Public Finance launched a public consultation on a draft emergency ordinance on the issuance of electronic money (e-money). Pursuant to that, on July 4,...
PSD2 entered into force on January 13, 2018 repealing Directive 2007/64/EC (PSD1).  The revised Payment Services Directive (Directive (EU) 2015/2366), also known as PSD2, introduced new obligations...
European efforts to implement new requirements around virtual currencies could see crypto-assets pushed into the revised Payment Services Directive (PSD2) by the back door, a regulator has suggested.
Australia’s financial services regulator has put the brakes on Revolut’s expansion in the country, ordering the payment services provider to halt onboarding of new customers while its licence...
German payment processor Wirecard has secured entry into China’s lucrative digital payments market by snapping up a local provider.
Impending moves by Brussels to cobble together new regulations on cryptocurrencies should focus on clarifying how existing laws apply to the sector rather than creating a new directive, experts...
A judge has ruled that the U.S. Office of the Comptroller of the Currency may not accept applications for its “fintech bank charter”, siding with traditional financial institutions in a blow to the...
Shares in Australia’s buy now, pay later juggernauts have tumbled after the Reserve Bank of Australia said it was gearing up to probe the sector and its refusal to allow retailers to pass on...
Regulators have mooted the possibility of beating the ploughshare of open banking into a sword against financial crime, but technical and legal hurdles still stand in the way of authorities’...
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...
On May 16, 2018 the Banking (Cash Machine Charges and Financial Inclusion) Bill 2017-19 passed its first reading in the House of Commons, under the "Ten Minute Rule"....
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 October 8, 2019, the European Council adopted new rules on whistle-blower protection (Directive 2018/0106 on the protection of persons who report breaches of union law). The new rules establish...
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...

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