In a ruling dated 27 March 2024 (no. 22-21.200), the French Supreme Court (‘Cour de Cassation’) - citing European case law - held that a payment service provider can only be held liable for an unauthorised or incorrectly...more
The open banking requirements under the Payment Services Directive (EU) 2015/2366 (“PSD2”) are now in force, under which an account servicing payment service provider (“ASPSP”) must grant an authorised third party service...more
The European Commission has published a report detailing: (i) the extent to which Member States have implemented the sanctions and monitoring sections of the EU Wire Transfer Regulation; and (ii) the particular sanctioning...more
The European Banking Authority has published an opinion on the nature of passport notifications for agents and distributors under the revised Payment Services Directive, the Electronic Money Directive and the Fourth Money...more
The European Payments Council Board has announced that it has approved the application from UK Finance for the continued participation of UK payment service providers in the SEPA schemes after 29 March 2019 in the event of a...more
On February 26, 2019 the Court of Justice of the European Union (CJEU) issued the long-awaited judgments on the cases concerning the Danish government withholding tax on dividends and interest paid by Danish companies to...more
The European Banking Authority has published a final report and final draft Regulatory Technical Standards under the revised Payment Services Directive on cooperation between national regulators in home and host states of a...more
The European Commission has published a proposed Regulation to amend the Regulation on cross-border payments in the EU. The Regulation on cross-border payments provides, among other things, that charges for cross-border euro...more
The UK Government launched a consultation on implementation of the revised EU Payment Services Directive in the UK. The new Payment Services Directive (known as PSD2) aims to make payments between Member States as secure,...more
The European Banking Authority published final draft Regulatory Technical Standards on the cooperation and exchange of information between national regulators where an authorized payment institution would like to provide...more
The UK’s Financial Conduct Authority has published its Final Guidance on the Definition of a “payment account“ under, and the application of the “Packaged Accounts” rules in, the UK’s Payment Accounts Regulations. The...more