Key developments of interest over the last month include:
- Brazil: The Central Bank of Brazil has confirmed that open banking regulations will begin to be implemented from November 2020. The implementation will consist of four phases, to end in October 2021.
- Europe: The EBA has published an opinion under Article 32(3) of the RTS on SCA and CSC (SCA RTS) on obstacles to the provision of payment initiation and account information services in the context of dedicated interfaces. The EBA issued this opinion to ensure that the SCA RTS (mandated under PSD2) are implemented consistently.
- United Kingdom: The FCA has published draft additional temporary guidance to strengthen payment firms’ prudential risk management and client money safeguarding arrangements in light of COVID-19.
In this Newsletter:
- Regulatory Developments
- Payment Market Developments
- Surveys and Reports
Regulatory Developments
Brazil: Implementation of open banking rules to begin in November 2020
On 8 May 2020 Banco Central do Brasil (BCB) announced that it would begin to implement open banking regulation in November 2020. This will allow financial institutions, payment institutions and other…
