News & Analysis as of

E-Money Financial Services Industry

Hogan Lovells

UK FCA portfolio letter to payments firms: compliance with safeguarding is ‘top priority’

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The FCA has published a Portfolio letter setting out its priorities for payments and e-money firms amidst tightening economic conditions and the cost-of-living crisis. Among the three outcomes that it has set for firms in...more

Latham & Watkins LLP

E-Money, Payment Services, and Insolvency

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Consumers and service providers should take note of some of the enhanced risks upon an e-money institution’s insolvency. Technology is rapidly changing the way customers and businesses interact with financial systems....more

Hogan Lovells

Italian register of central contact points, payment services agents and e-money distributors

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The Italian Ministry of Economy and Finance issued the long-awaited decree regarding the Italian register of payment services agents, e-money distributors and central contact points for AML supervision....more

Proskauer Rose LLP

UK Financial Conduct Authority consults on payments, e-money and other firms to comply with “Consumer Duty”

Proskauer Rose LLP on

On 7 December 2021, the FCA published a second consultation paper (CP21/36) on the proposed "Consumer Duty" (the "Second Consultation"). The FCA's first consultation on this topic (CP21/13) was published in May 2021 and...more

Hogan Lovells

And so it continues: FCA Policy Statement on changes to SCA-RTS and Payments Approach Document

Hogan Lovells on

Following on from the consultation paper issued in January 2021, the FCA has now published a Policy Statement setting out the amendments which will be made to the SCA-RTS and to the guidance in the Payment Services and...more

Hogan Lovells

Italian register of payment services agents, e-money distributors and central contact points

Hogan Lovells on

The Italian Ministry of Economy and Finance launched a public consultation on the long-awaited draft decree for the establishment of the Italian register of payment services agents, e-money distributors and central contact...more

Hogan Lovells

Global Payments Newsletter, June 2021

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Key developments of interest over the last month include:  Hong Kong: FSTB publishes consultation conclusions on virtual asset services providers licensing regime Europe: European Commission publishes proposal for Regulation...more

Jones Day

A Multifaceted Maze: The FCA's Role and Powers in Distressed Situations

Jones Day on

The last five years have seen a substantial increase in the number and variety of regulated firms operating in the United Kingdom, with the development in particular of financial services provided by new technology firms,...more

Hogan Lovells

Payments regulatory news, February 2021

Hogan Lovells on

UK contactless card payments limit: FCA consults on increase - In a COVID-19 update on mortgages, consumer credit, banking and payments, the UK Financial Conduct Authority (FCA) announced that it intends to consult on...more

A&O Shearman

UK Proposals to Extend Regulatory Perimeter to Capture Promotion of Unregulated Crypto-Assets

A&O Shearman on

HM Treasury has released proposals to amend the U.K.’s financial promotion rules to subject unregulated crypto-assets to the financial promotions regime. The Government proposals aim to enhance consumer protection, ensure...more

Hogan Lovells

Consumer finance regulatory news, July 2020 #2

Hogan Lovells on

COVID-19: FCA consults on updated temporary guidance for motor finance and HCSTC agreements - On 3 July 2020, the UK Financial Conduct Authority (FCA) published for consultation updated temporary guidance for firms, which...more

Hogan Lovells

Payments regulatory news, July 2020 #2

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CHAPS enhanced ISO 20022 messages: BoE industry review - The Bank of England (BoE) has published an industry review of the CHAPS enhanced ISO 20022 messages....more

Hogan Lovells

UK FCA publishes annual Sector Views report

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The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more

Hogan Lovells

UK FCA becomes AML/CFT crypto supervisor

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The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more

White & Case LLP

Crypto regulation: UK FCA clarifies regulatory perimeter – but leaves open questions over its tech neutrality

White & Case LLP on

On 31 July 2019 the UK Financial Conduct Authority (FCA) published final Guidance on the cryptoasset activities within its regulatory perimeter, in response to feedback on its January 2019 consultation paper and as trailed in...more

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