This site would like to set some non-essential temporary cookies. Some cookies we use are essential to make our site work.
Others such as Google Analytics help us to improve the site or provide additional but non-essential features to you.
No behavioural or tracking cookies are used.
To change your consent settings, read about the cookies we set and your privacy, please see our Privacy Policy

Payments & FinTech Lawyer

Volume: 2 Issue: 12
(December 2008)


The Economic and Monetary Affairs Committee (ECON) of the European Parliament will vote on whether to adopt a number of changes to the European Commission's proposal for a new E-Money Directive (COD/2008/0190) on 11 February. / read more

The European Commission is inviting applications from payments experts to become part of a Payment Systems Market Expert Group (PSMEG) by 6 February. The PSMEG will assist the Commission in the preparation of legislative acts or policy initiatives regarding payment systems, including fraud prevention. It will provide insight concerning practical implementation of policy and will exchange views on best practice. / read more

The European Payments Council (EPC) released version 3.2 of its SEPA Core Direct Debit Rulebook on 7 January, which contains rules on the use of e-mandates to facilitate Single Euro Payments Area (SEPA) compliant direct debits. / read more


The Single Euro Payments Area (SEPA), the panEuropean initiative to create a zone in which all electronic payments in euro are considered domestic, started in January 2008 with the launch of SEPA Credit Transfer (SCT), the first of three SEPA initiatives. The SCT will allow euro credit transfers to be made in a standard order format with a reduced execution time. In January 2008, the second SEPA element - SEPA for Cards - was also started, allowing banks to begin to distribute, issue and acquire SEPA Cards Framework (SCF) compliant payment cards. / read more

Charlie McCreevy, European Commissioner for the Internal Market and Services, has announced proposals for stricter regulation of credit rating agencies (CRAs), despite amendments made to a voluntary code of conduct for CRAs by the International Organization of Securities Commissions. Patrick Keown, Head of Corporate Banking at Hill Dickinson LLP, examines why stricter regulation of CRAs has been proposed, perceived flaws in the industry's business model and the EU's proposed solutions to these issues. / read more

Every financial institution in Brazil is regulated through the Banking Act, while foreign financial institutions also require special authorisation by government decree. Rodrigo d'Avila Mariano, a Partner with Pinheiro Neto Advogados, examines the application of the Banking Act and foreign exchange control regulations to internet banking, as well as the limitations placed on electronic contracts under Brazilian legislation. / read more

New proposals issued by the Financial Services Authority (FSA) for the regulation of retail banking conduct of business means more statutory regulation for banks and building societies in the UK. The new mandatory framework will replace, with some exceptions, most of the content of the current voluntary Banking Code. Robert Robinson, of Deloitte LLP, examines the FSA's proposed areas of change. / read more

Payment card fraud historically involved theft of a card, however is increasingly migrating online, where often only the card number and expiry date are needed to carry out a transaction. Peter Welch, an independent management consultant, examines the scale of payment card fraud both nationally and internationally, and efforts by banks to implement additional security measures without deterring the customer from completing the transaction. / read more

New credit card rules to protect consumers from unfair credit card acts or practices were published on 18 December. Donald J Mosher and Jessica Sklute, of Schulte Roth & Zabel LLP, examine the rules. / read more

Online 'penny auction' sites allow bidders to win expensive items at a price that appears unbelievably cheap, however users are charged by the site for each bid that they place. Dr. Mark Griffiths, a Professor of Gambling Studies at Nottingham Trent University, examines how 'penny auction' sites operate, and whether they should be regulated. / read more

About Payments & FinTech Lawyer

The monthly publication covering legal, regulatory and policy developments relating to the fast-moving payments and FinTech sectors. Key topics include mobile payments, e-money, prepaid and other payment cards, online banking, digital currencies such as Bitcoin, card fraud and other cyber crime, RegTech, robo-advice, P2P lending, and crowdfunding, as well as regulatory regimes such as the Second Payment Services Directive (PSD2), the Payment Accounts Directive, and the Fourth Anti-Money Laundering Directive / read more

Search Publication Archives

Our publication archives contain all of our articles, dating back to 2006.
Canít find what you are looking for?
Try an Advanced Search

Log in to payments & fintech lawyer
Subscribe to payments & fintech lawyer
Register for a Free Trial to payments & fintech lawyer
payments & fintech lawyer Pricing

Social Media

Follow payments & fintech lawyer on TwitterView our LinkedIn Profilepayments & fintech lawyer RSS Feed