Posted by Melvin Tjon Akon on 16 December 2024
On 31 May 2024, the EU Legislature adopted Directive (EU) 2024/1640 (the Sixth Anti-Money Laundering Directive, AMLD6), Regulation (EU) 2024/1624 (the Anti-Money Laundering Regulation, AMLR), Regulation (EU) 2024/1620 (the AML Authority Regulation, AMLAR).
Posted by Karen Butler on 6 December 2024
The long-awaited Consumer Composite Investments (Designated Activities) Regulation 2024 entered into force on 22 November 2024 (the CCI Regulation).
Posted by Karen Butler on 29 November 2024
On 14 November 2024, HM Treasury published its response document and draft Statutory Instrument (Draft SI) confirming that providers of Environmental, Social and Governance (ESG) ratings will be brought within the scope of the UK regulatory perimeter.
Posted by Puesan Lam on 15 November 2024
The UK regulators confirmed their new rules for critical third parties (CTPs) on 12 November 2024. The new rules are intended to be closely aligned with international standards and similar regimes, including DORA.
Posted by Linzi Penman and Eilís McDonald on 8 November 2024
The European Data Protection Board (EDPB) adopted an opinion on 7 October 2024. It gives guidance for data controllers relying on processors (and sub-processors) under the GDPR.
Posted by Sophie Lessar, Philip Williams and Peter Manley on 30 October 2024
The Financial Conduct Authority (FCA) is consulting on proposals to strengthen the safeguarding rules for payment and e-money firms, to introduce CASS-like measures to increase protection for customer funds when firms become insolvent.
Posted by Melvin Tjon Akon and Joris Latui on 29 October 2024
The de-banking of customers, and the legal and regulatory implications that can arise, are not new issues. However, those issues have come into sharp focus following recent publicity surrounding a high-profile account closure. This article considers what payment services firms can expect next following the increased scrutiny from customers, media, government and the regulators.
Posted by Sophie Lessar and Lewis Baxter on 25 October 2024
The FCA on 9 October 2024 published its key findings from its review of payment firms' implementation of the Consumer Duty, which came into force for open products and services on 31 July 2023 and for closed products on 31 July 2024.
and then 