EBA publishes Q&A on Merchant Initiated Card Transactions – The end of PSD2 nightmares of PayPal, Amazon, Xing, car rental agencies and hotels?

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On 1st of March, the European Banking Authority (EBA) published an answer to a question which had been submitted by the card schemes. What impact will this have on the various use cases or the liability of the card issuer and how does BaFin view this?

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BaFin circular on virtual currencies

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A new circular by BaFin addresses BaFin’s concerns to financial institutions regarding AML-Compliance in connection with virtual currencies. The circular also indicates BaFin’s view regarding a license requirement for cryptoexchange platforms upon the „Bitcoin-ruling“.

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New Rules for Outsourcing by Banks, Payment Institutions and other institutions

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The European Banking Authority (EBA) published a draft of the EBA Guidelines on Outsourcing and launched a public consultation. The consultation period closed on 24 September 2018. The new Guidelines are planned to enter into force on 30 June 2019 and will add further provisions and regulations with regard to outsourcing arrangements.

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European Commission - enhancing European AML supervision by strengthening EBA?

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The European Commission envisages to fight money laundering terrorist financing more effectively by implementing an overall European strategy. EBA shall be strenghtened and able to supervise the EU member states and financial institutions in the EU.

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