On 19 December 2023, the Payment Systems Regulator (PSR) published its final policy statement on fighting authorised push payment (APP) scams alongside three legal instruments that will give effect to the new mandatory...more
The European Commission has just published its current thinking on green mergers. Recognizing that competition law must play its part in achieving the European Green Deal, the Commission sets the scene and explains how its...more
Over the summer, the UK government announced that it had agreed a new Charter of support measures for mortgage holders with the FCA and the UK's principal mortgage lenders. Resultant changes to the FCA’s mortgages sourcebook...more
9/6/2023
/ Consumer Financial Products ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Loans ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Securitization Standards ,
Structured Finance ,
UK
HM Treasury has published the response to its July 2022 consultation and call for evidence on payments regulation and the systemic perimeter. HMT proposes the following next steps: extend the scope of the Bank of England’s...more
In his Mansion House speech on 10 July 2023, the Chancellor of the Exchequer Jeremy Hunt referred to further planned reforms - the ‘Mansion House reforms’ - that build on December 2022’s Edinburgh Reforms. This is all part of...more
The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset market. The financial system’s resilience...more
For many firms, the "price and value" outcome will raise many new issues, and assessing whether a product or service represents fair value will require a wholly new approach....more
With the publication of the final rules there is now only a year to go before firms must comply with their Consumer Duty obligations. The FCA has emphasised that this must be a major cultural shift. While it’s good news that...more
The fifth edition of the Financial Services Regulatory Initiatives Grid has been published today by the Financial Services Regulatory Initiatives Forum. The initiatives in this edition include the Financial Services and...more
Key developments of interest over the last month include: • United Kingdom: The Payment Systems Regulator (PSR) has published two calls for views, one of which focuses on authorised push payment (APP) scams and the other on...more
Join us for our exciting pan-European webinar on recent AML developments and the EC's new action plan on preventing money laundering. International experts will share insights on the direction of AML supervision and...more
Several high profile systems failures resulting in customers being unable to access their finances and an ever-increasing reliance on outsourcing key activities to group entities or third parties have unsurprisingly caught...more
The UK’s consumer sector has shown resilience against the backdrop of challenging political and economic conditions. Consumers in the UK remain willing to spend; however, the way in which they do so is changing, with...more
2/19/2020
/ Arbitration ,
B2B Transactions ,
Consumer Protection Laws ,
Customs ,
Data Privacy ,
Doing Business ,
E-Commerce ,
Exports ,
Financial Services Industry ,
Imports ,
Intellectual Property Protection ,
Ownership of Works ,
Payment Systems ,
Real Estate Market ,
Regulatory Oversight ,
Regulatory Standards ,
Strict Product Liability ,
Supply Chain ,
Tariffs ,
UK
Disruption continues to be the norm for those in the payments and retail banking sectors. 2018 was dominated by preparations, or talk about preparations, for Brexit and 2019 started out in the same vein, with many firms...more
The FCA published their finalised guidance on the fairness of variation terms in financial services consumer contracts under the Consumer Rights Act 2015 on 19 December 2018....more
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...more
3/7/2017
/ Agricultural Sector ,
Court of Justice of the European Union (CJEU) ,
EU ,
Farms ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Interchange Fees ,
MasterCard ,
Payment Systems ,
PSD ,
PSD2 ,
RTS ,
SEPA ,
Technology ,
UK
HM Treasury has today published a consultation paper and draft Payment Services Regulations 2017 for a short 6 week consultation period ending on 16 March 2017.
The consultation paper states that the Government aims to...more
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...more
1/18/2017
/ Africa ,
Banking Sector ,
Banks ,
Blockchain ,
BSA/AML ,
Consumer Financial Products ,
Credit Cards ,
EU ,
European Banking Authority (EBA) ,
Facebook ,
Financial Fraud ,
Financial Institutions ,
Financial Markets ,
FinTech ,
France ,
Germany ,
India ,
Indonesia ,
Italy ,
Malaysia ,
MasterCard ,
Mobile Apps ,
Mobile Banking ,
Money Transfer ,
Payment Services Directive ,
Popular ,
Prepaid Payment Products ,
PSD2 ,
Regulatory Oversight ,
Reporting Requirements ,
RTS ,
Scams ,
Stock Exchange ,
Technology ,
Third-Party ,
UK ,
Visa Inc ,
Western Union