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PSD2: Tracking the Implementation at EU and Country Levels
18th Nov 2019 | Written by:
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...
Pressure On PayPal Over Political Donations Could Spur New Laws
5th Nov 2019 | Written by:
UK payment service providers could face new laws designed to combat illicit political donations after lawmakers grilled PayPal over its approach to handling payments to local political parties...
Malta Tells Banks To Monitor Third-Party Data Use Under PSD2
16th Oct 2019 | Written by:
Regulators in Malta have told banks to ensure third-party providers operating under the revised Payment Services Directive (PSD2) cannot access data beyond what is necessary to carry out the...
Liechtenstein: Parliament Approves Blockchain Law
8th Oct 2019 | Written by:
On October 4, 2019, the Liechtenstein parliament approved the Token and VT Service Providers' Law (TVTG) on transaction systems based on trusted technologies, which will also be known as the...
Pakistan: Parliament Passes Anti-Money Laundering (Amendment) Bill 2019
8th Oct 2019 | Written by:
On September 30, 2019, the National Assembly approved a bill to enhance penalties and sanctions for money laundering. The Anti-Money Laundering (Amendment) Bill 2019 aims to restructure the...
Australia: Law Introducing Obligation to Include Right to Delete CDR Data in Consumer Data Rules
18th Sep 2019 | Written by:
On September 18, 2019, the Treasury Laws Amendment (2019 Measures No. 2) Bill 2019 was introduced and read for the first time in the House of Representatives. ...
Mexico: Congress Passes Law on Financial Technology Institutions
13th Sep 2019 | Written by:
On March 1, 2018, the Chamber of Deputies approved the Law to Regulate Financial Technology Institutions, known as the Fintech Law. The law aims to regulate financial services provided by financial...
GDPR: Tracking the Implementation at Country Level
29th Aug 2019 | Written by:
The General Data Protection Regulation (Regulation 2016/679), also known as the GDPR, significantly increases the responsibilities and obligations for payments businesses in how they collect and...
Australia Eyes Open Banking 'Testing Ground' As Data Sharing Becomes Law
2nd Aug 2019 | Written by:
Legislation to launch open banking in Australia has passed parliament after months of delays, but is likely to face imminent changes to allow consumers to “delete” data held by firms.
Australia Set To Abolish High-Value Cash Payments
29th Jul 2019 | Written by:
Paying for most goods and services with more than A$10,000 ($6,900) in cash will become a criminal offence in Australia from January next year, under a new law proposed by the government.
Australia Has Second Attempt At Open Banking Legislation
23rd Jul 2019 | Written by:
The Australian government has said it will re-introduce legislation this week to enable open banking to begin on schedule in February 2020, but its reception from opposition parties remains...
Nevada Eyes 'Lithium Valley' Crown With New Blockchain Legislation
1st Jul 2019 | Written by:
Although Nevada’s emerging blockchain sector remains small in terms of revenues compared to the mining or gaming industries, it has been growing rapidly as state lawmakers look for ways to...
Trump Threatens Correspondent Banking Links With New Iran Sanctions
25th Jun 2019 | Written by:
The U.S. threatened to cut off foreign financial institutions from U.S. correspondent banking networks on Monday night as President Donald Trump issued sweeping new sanctions against Iran’s leaders.
Iceland: Parliament Announces Approval of Amendments to the Central Bank Act
21st Jun 2019 | Written by:
On June 20, 2019, the Icelandic parliament (Althing) announced its approval of amendments to various laws relating to the merger of the Central Bank of Iceland and the Financial Supervisory Author...
Finland: Financial Supervisory Authority Issues Principles for Determining Penalties and Fines
19th Jun 2019 | Written by:
On June 19, 2019, the Financial Supervisory Authority published the principles for determining penalties and fines. When determining the changes to the principles published in 2015, the regulator...
Law Commission: UK Must Act To Weed Out 'Useless' Transaction Reports
18th Jun 2019 | Written by:
A long-awaited review into the UK’s beleaguered suspicious activity reporting regime has recommended that the government issue a definitive guidance document to help stem the flow of superfluous...
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