Digital Banking, Payment Systems & FinTech

Free Flow of Data

Updated on 28/06/2018
  • Commission:
    • Published a Proposal for a regulation on 13 September 2017.
    • On 25 April 2018, the Commission published a range of initiatives aimed at improving the free-flow of (non-personal) data in the EU.
    • On 19 June 2018, EU negotiators reached a political agreement on the free flow of non-personal data.
    • On 21 June 2018, the Commission updated its Q&A on the framework for the free flow of non-personal data in the EU.

Cyber Security

Updated on 28/06/2018
  • Commission:
    • The Commission published a Proposal for a regulation on 13 September 2017.
    • On 26 March 2018, the Commission opened a consultation on a proposal to create a cybersecurity competence network with a European Cybersecurity Research and Competence Centre.
  • Council:
    • On 8 June 2018, the Council agreed on its general position on the Cybersecurity Act.

FinTech Action Plan

Updated on 28/06/2018

State-of-play: Pre-legislative phase.

  • Commision:
    • On 8 March 2018, the Commission published it’s Fintech Action Plan, aimed at promoting both the digital single market and Fintech.
    • On 20 June 2018, the EU Fintech Lab held its first session (where cloud outsourcing was discussed).

Payment Services Directive II (PSD2)

Updated on 22/12/2017

State-of-play: Published in the Official Journal. L 337/35 on 25 November 2015

  • Entered into force: 15 December 2015.
  • Transposition deadline: 13 January 2018.
  • Level 2: On 29 June 2017, EBA published its opinion in response to the Commission’s intention to amend EBAs RTS under PSD2. The Commission published the RTS on 27 November 2017.
  • Level 3: On 13 December 2017 the EBA published its final Report on Draft RTS setting technical requirements on development, operation and maintenance of the electronic central register on access to information .

Action Plan on Retail Financial Services

Updated on 04/02/2019

State-of-play: Pre-legislative phase.

  • Commission: On 2 September 2015, a Roadmap for the Green Paper was published. The publication of the Green Paper and the consultation took place on 10 December 2015.
  • European Parliament: The report on the Green Paper was approved in ECON on 11 October 2016.
    • On 22 November 2016, the text was adopted by the Parliament in Plenary.
    • On 20 June 2017, the ECON Committee had its consideration of the draft own initiative report.
    • On 30 August 2017, the ECON Committee discussed proposed amendments to the action plan.
    • On 28 September 2017 ECON and IMCO published a joint opinion on an Action Plan on Retail Services.
    • On 14 November 2017, the own initiative report was adopted was adopted at plenary.

SEPA extension and dynamic currency conversion

Updated on 02/05/2019

State-of-play: Legislative phase.

Virtual Currencies

Updated on 07/05/2018

State-of-play: Non-legislative.

  • European Commission:
  • European Parliament:
    • On 26 May 2016, the EP adopted a resolution on virtual currencies.
    • On 19 April 2018, the 5th Anti-Money laundering Directive (AMLD V) was adopted at Plenary, which included more regulation for virtual currencies.
  • Level 2: On 2 June 2016, ESMA has issued a Discussion Paper for public consultation on distributed ledger technology, the consultation ended on 2 September 2016.
  • Level 3: On 12 February 2018, the ESAs published a warning to customers on the risks of buying virtual currencies.

Green Paper on Retail Financial Services

Updated on 29/11/2017

State-of-play: Consultation.

  • Commission: On 2 September 2015, a Roadmap for the Green Paper was published. The publication of the Green Paper and the consultation took place on 10 December 2015. A public hearing organised by the European Commission was held on 2 March. The Commission published an action plan in Q1 2017.
  • European Parliament: The report on the Green Paper was approved in ECON on 11 October 2016. On 22 November 2016, the text was adopted by the Parliament in Plenary.

Contact

Association des Banques et Banquiers, Luxembourg

Address

12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.