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Hogan Lovells Global Payments Newsletter l July 2017

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 responds to Commission’s amendments to the RTS on SCA: The EBA has published an Opinion in which it rejects three of the four amendments the European Commission proposed in May.

Implementation of MLD4 in Italy: Among other things, Legislative Decree No.90 of 25 May 2017 changes the existing legislative framework by introducing specific provisions for payment and e-money institutions and increased reporting requirements.

EBA publishes guidelines on professional indemnity insurance under PSD2: The final guidelines require the minimum monetary amount of PII or comparable guarantee to be calculated by adding up the amounts that are reflective of the risk profile, type of activity and size of activity criterion.

To view a PDF of the full Newsletter please click here. You can also follow us on Twitter at @HLPayments for regular news and updates.