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

PII for payment initiation services and account information services

The European Banking Authority (‘EBA’) published on 7 July 2017 its Final Guidelines on Professional Indemnity Insurance under the Revised Payment Services Directive (‘PSD2’), which set out the criteria on how the minimum monetary amount of professional indemnity insurance (‘PII’) or other comparable guarantee for payment initiation services (‘PIS’) and account information services (‘AIS’) should be stipulated. However, in the view of Arun Srivastava and Nina Moffatt of Baker McKenzie, the crucial question of whether the insurance will cover the range of risks that payment initiation service providers and account information service providers may be exposed to has not quite been answered.

Sign up for a free trial for a week’s access to the entire latest issue of the journal
You must be logged in and have an active full subscription to view full articles.
Log in now
If you are not already a subscriber, take a subscription for full access to our entire online archives.

Search Publication Archives

Our publication archives contain all of our articles, dating back to 2006.
Can’t 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