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
June's issue of E-Finance & Payments Law & Policy
With the UK Competition and Markets Authority (‘CMA’) publishing its Provisional decision on remedies in May following its 18-month investigation into the retail banking market, the proposals outline plans to improve competition in personal, SME and enterprise banking sectors and confirm that the CMA has no plans to ‘break up’ the UK’s largest banks. Partners Tim Wright from Pillsbury and Alan Davis at Jones Day discuss the implications of the CMA’s remedies, which will culminate in a final report due August 2016.
June’s issue also features reactions from legal experts on the plans being drawn up by the Bank of England, GCHQ and the UK Government to exclude customers with weak online security from receiving compensation for fraud if their account is hacked. With this potential shift in responsibility onto the customer, Fiona Simpson, Partner at Kingsley Napley LLP sheds some light on the development.
Please note that we recently made our news section free to read with no paywall getting in your way. You'll find our news to the upper left of this page. Check back regularly as we plan to publish our news analysis on a more frequent basis going forward.
Among our feature articles this month is a detailed look at the rise of alternative finance, with a focus on the most common types of alternative finance: crowdfunding and peer-to-peer lending. Chris Finney, Partner at Cooley LLP, analyses the regulatory landscape for alternative finance in the UK and discusses the risks and opportunities they bring to the marketplace.
PLUS: The European Banking Authority’s recent paper on the innovative use of customer data in financial services - Analysis of the anonymity challenges facing cryptocurrencies - Thailand’s ambitious plans to become cashless - The Canadian Competition Bureau’s market study into technology-led innovation in the Fintech sector - The messy story of EMV adoption in the US so far.