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:
Netherlands to postpone implementation of PSD2: On 22 September 2017, the Dutch Finance Minister announced that it is no longer realistic for the Netherlands to transpose PSD2 by the 13 January 2018 deadline and that implementation is not likely to be completed until Spring 2018 at the earliest.
Joint Committee of the European Supervisory Authorities publishes final guidelines under revised Wire Transfer Regulations: The final guidelines, published on 22 September 2017, explain the measures and procedures relevant to payment service providers where information on payers or payees is incomplete or missing.
Bank of England and Payment Systems Regulator announce formation of New Payment Systems Operator: A joint press release on 13 September 2017 stated that the necessary preparations had been completed. Board members have since been appointed.