Welcome to the Hogan Lovells Global Payments Newsletter. In this monthly publication we provide an overview of the most recent payments, regulatory and market developments from major jurisdictions around the world as well as sharing interesting reports and surveys on issues affecting the market.
Key developments of interest over the last month include:
- EBA consults on guidelines on security reporting: the draft guidelines specify, amongst other things, the criteria for classifying operational or security incidents as major, and a template for payment services providers to use when notifying incidents to the competent authorities.
- Implementation of PSD2: in Germany, two draft implementing acts (one for regulatory, one for contract law aspects of PSD2) have been published for consultation.
- UK PSR response to Which? authorised push payments super-complaint: the PSR, in conjunction with Financial Fraud Action UK, is looking to the banking industry to lead on a programme of work which will address the issue of a lack of clear data and develop best practice standards for banks to follow.