PSD2 is the main piece of EU legislation governing payment services and it is being reviewed. As part of the review, the European Commission requested advice from the European Banking Authority. That advice was issued on June 23, 2022 and includes recommendations for significant changes, including on:
- Prudential requirements (e.g. capital requirements, liquidity buffers, resolution plans, safeguarding, and outsourcing)
- Account access requirements (e.g. open banking and bank de-risking requirements)
- Data security requirements (e.g. strong customer authentication)
- Various other conduct and liability provisions
See further our recent Sidley Update, available here.
This webinar focuses on the changes PSD3 is likely to bring, how they could impact firms operating in the sector, and what firms should be doing to monitor and prepare for the changes and engage with policymakers where appropriate.
John M. Casanova