Category: PSD2

5th Anti-money Laundering Directive: 2nd Presidency Compromise Text published

The Council of the European Union has published the 2nd Presidency Compromise Text version of the 5th Anti-money Laundering Directive. The text has been marked up to show how the 1st Compromise Text has been change to create the 2nd. The differences include:

PSD2: The European Parliament as a friend of account information & payment initiation service providers

The European Banking Authority (EBA) has published a letter from the European Parliament’s PSD2 negotiating team. The team describes itself as “concerned” about the risk that the EBA’s draft Regulatory Technical Standards (RTS) on “strong customer authentication and … secure communications” will allow the banks to “exclude or limit direct access” by […]

PSD2: EBA Consultation on information to be provided for the (continued) authorization or registration of a payment or e-money institution, & an account information service provider

The European Banking Authority has published a Consultation on “Draft Guidelines on the information to be provided for … authorization as [a] payment institution [or] e-money institution and for the registration as [an] account information service provider“.

5th Anti-money Laundering Directive: Presidency compromise text published / ECB recommendations accepted

The Council of the European Union has published the first “Presidency compromise text” version of (what is now being referred to as) the 5th Anti-money Laundering Directive (5AMLD) (it used to be “an amendment to 4AMLD” instead). The Presidency compromise text includes a series of amendments that seem to have been […]

PSD2: EBA consults on PII Guidelines for payment initiation & account information service providers

The European Banking Authority (EBA) has published its draft Guidelines on professional indemnity insurance (PII) and comparable guarantees for payment initiation and account information service providers (PISPs and AISPs respectively), under the second Payment Services Directive (PSD2).  The draft Guidelines include criteria, indicators, calculation methods and a formula for national regulators  to use when […]

PSD2: “strong customer authentication” – what, when & how?

From 13 January 2018, banks, electronic money issuers and other payment service providers (together, PSPs) will be required to “appl[y] strong customer authentication“. Now that we have both the second Payment Services Directive (PSD2) and the European Banking Authority’s draft Regulatory Technical Standards (RTS), we can begin to see what this might mean, and what […]

PSD2: EBA consults on “strong customer authentication” & “common and secure communication”

(As anticipated) the European Banking Authority (EBA) has published a “Consultation Paper on the draft Regulatory Technical Standards specifying the requirements on strong customer authentication and common and secure communication under PSD2“. The Consultation Paper includes the EBA’s thoughts on what the relevant parts of the second Payment Services Directive (PSD2) mean; and its first draft […]