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Payments regulatory news, March 2021 | Hogan Lovells

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Recent regulatory developments focussed on the payments sector. See also our General Regulatory News of broad relevance in the Related Materials links.
Contents
SEPA direct debit schemes: EPC guidelines for appearance of mandates
EU PSD2: EBA opinion on obstacles to provision of third party provider services
Global Payments Newsletter: February 2021
Hogan Lovells has published the February 2021 edition of our Global Payments Newsletter which reports on regulatory developments, payment market developments and surveys and reports. 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 consumer protection in interbank payments. ....

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UK's New Requirements on Cross-Border Payments

Wednesday, January 20, 2021
The Cross-Border Payments Regulation (EC) No 924/2009 (CBPR) is the EU legislation that sets out the principle of equality of charges for intra-EU cross-border euro payments and corresponding national payments within an EU member state. CBPR has been amended by Regulation (EU) 2019/518 (Amending Regulation), which extends the equality of charges principle to any non-euro currency of an EU member state and inserts new transparency requirements on currency conversion charges. CBPR applied directly in the UK until 31 December 2020.
CBPR (as amended by the Amending Regulation) has, since 1 January 2021, been “onshored” into UK law following the end of the Brexit transition period, with amendments, and we refer to the UK’s implementation of CBPR in this alert as UK CBPR. ....

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