The monthly law journal covering legal issues in banking, e-finance, e-money and online payments including, mobile payments (m-payments), micropayments, pre-paid cards and other payment cards, online banking, NFC (near field communication) and other contactless payments, digital currencies such as Bitcoin, mobile wallets and virtual money, e-invoicing, e-billing and e-payments, card fraud and other cybercrime, as well as regulatory regimes such as the E-Money Directive (EMD and 2EMD), the Payment Services Directive (PSD), SEPA, the US Electronic Money Regulations 2011, and the UK Bribery Act 2010. / read more
April's issue of E-Finance & Payments Law & Policy
The UK's Payment Systems Regulator ('PSR') has been very active recently, issuing its final guidance on the 24 March on how it will monitor and enforce compliance with the EU's new Interchange Fee Regulation, which has introduced caps on interchange fees charged by debit and credit card issuers. The final guidance is of real importance for issuers, acquirers and schemes who will have to produce compliance reports and submit data that demonstrates compliance, which may need to certified by an independent auditor. Ben Regnard-Weinrabe, Partner at Paul Hastings, told E-Finance & Payments Law & Policy that in addition to the guidance the PSR has indicated that provided firms are endeavouring to implement the Regulation in a timely and compliant fashion, it is unlikely to take aggressive enforcement action, at least initially.
Also in April's issue, Fiona Ghosh, Gita Shivarattan and Rhoda Bryans of Addleshaw Goddard LLP, look at the pros and cons of utilising blockchain technology and its regulatory impact on the UK's financial services industry. We then follow with an in-depth article on Australia's move to increase competition in the FinTech sector, which resulted in the release of a publication 'Backing Australian FinTech' last month. Michelle Segaert, Partner at Squire Patton Boggs, discusses the reforms put foward by the Australian Government concerning FinTech and the reaction from the banking sector.
We then feature an analysis piece on the rise of robo-advice in the UK, following the Financial Conduct Authority's final report on the Financial Advice Market Review, which included recommendations to help firms develop robo-advice models. Kate Monserrate, a Director at Simplify Consulting and Tim Wright, a Partner at Pillsbury, assess the growing market for robo-advice and consider the main risks faced by providers of such advice.
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