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Global Payments Newsletter, July 2021 | Hogan Lovells


Europe: EBA consults on proposed guidelines on limited network exclusion under PSD2
On 15 July 2021, the EBA published a consultation paper (EBA/CP/2021/28) proposing guidelines on the limited network exclusion (LNE) under PSD2.
The EBA explains that Article 3(k) of PSD2 introduced an exclusion for services based on specific payment instruments that can be used only in a limited way. It believes that the implementation and application of the LNE requirements diverges significantly between member states, which impedes the single market for payment services in the EU and creates opportunities for regulatory arbitrage. The EBA also believes that consumers are sometimes unaware that they do not benefit from the protection envisaged under PSD2. ....

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Financial institutions general regulatory news, July 2021 #2 | Hogan Lovells


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Recent UK and EU regulatory developments of interest to most financial institutions. See also our supplementary sector specific updates in the Related Materials links.
Contents
UK FTA with Norway, Iceland and Liechtenstein
India-UK Financial Markets Dialogue
BoE Financial Stability Report and FPC summary and record
Resilience of market-based finance: BoE report
Change in control assessments: PRA letter on regulator power to object
Online fraud and financial promotion: FCA letter
Financial promotion: FCA case studies on good and bad practice
FCA 2021/22 business plan
SFDR: European Commission delays application date of RTS ....

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