The UK has implemented the 4MLD WTR2 just in time with the Money Laundering Regulation 2017 coming into force today. While the JMLSG Guidance updates for 4MLD have been finalised they have not yet received Ministerial approval by […]
The UK’s Financial Conduct Authority has introduced a handy feature allowing you to receive FCA PSD2 Email Updates – you can sign up via their online form. The FCA has also indicated that its consultation on authorisation […]
One of the most debated issues with the upcoming PSD2 relates to the access rules for TPPs (those being payment initiation service providers and account information service providers). The actual details on how this access […]
PSD2 Security Obligations PSD2 has added many additional compliance obligations on the firms that fall within its scope – perhaps the most controversial are those known as the PSD2 Security Obligations set out in Chapter […]
The 26 June 2017 deadline is fast approaching to implement 4MLD and WTR2 Many organisations will now be finalising their implementation of the Directive implementing 4MLD and the 2nd Wire Transfer Regulations (sometimes called the Funds Transfer […]
The revised Payment Services Directive (EU 2015/2366) has now been formally adopted and published in the Official Journal on 23 December 2015. It’s finalised text is available here. Key dates for your compliance calendars: 12 January […]
The cross border interchange fee rules become effective on 9 December. This means that merchants (and hopefully consumers) should see the benefits of having capped fees applied with respect to cross border: Credit card payments – […]
The PSD2 was finalised by the Council of Ministers on 16 November 2015. As stated in the press release from the Council of the European Union: The regulation was adopted at a meeting of the […]
The FCA has published a report to the HM Treasury on the feasibility and practicalities of developing a regulatory sandbox as part of its Project Innovate initiative. What is the FCA’s proposed regulatory sandbox? The […]
One of the significant changes proposed by PSD2 is the right of Third Party Payment Providers (TPPs) to be granted access rights to account servicing PSPs. Vocalink, together with Equens SE and Nets have issued a […]