2018 – May You Live in Interesting Times

Next year will be a momentous one for the European banking and insurance industries as legislators have a field day in launching new regulation. Spurred on by “well meaning” politicians with a natural desire to protect the consumer from the ravages of another banking crisis, the EU rule books governing the financial services will be turned upside down in...

Payment Services Directive – II (or PSD2)

EXECUTIVE SUMMARYEXECUTIVE SUMMARY In plain terms, PSD2 seeks to improve the existing EU rules for electronic payments. The text reflects recent developments seen in internet and mobile payments. In particular, the directive sets out rules concerning: strict security requirements for electronic payments and the protection of consumers' financial data, guaranteeing safe authentication and reducing the...