As contactless transactions boom, EU regulators publish draft guidelines on the interplay between the GDPR and PSD2. By Fiona M. Maclean, Christian F. McDermott, Calum Docherty, and Amy Smyth Last year, more than half of all payments in the UK were made by card and contactless methods, while cash made up less than a quarter … Continue Reading
As third-party access to consumer financial data expands, regulators balance innovation, customer choice, and data protection. By Brett Carr, Charles Weinstein, and Deric Behar Consumers’ rights to access and use their personal financial information has been a key focus of innovators and regulators over the past decade. The development of “open banking” fintech models has … Continue Reading
The additional temporary guidance aims to strengthen the arrangements for safeguarding customers’ funds and firms’ prudential risk management in light of the impact of COVID-19. By Stuart Davis, Brett Carr, and Anna Lewis-Martinez On 9 July 2020, the FCA published its finalised guidance on safeguarding customers’ funds during the COVID-19 crisis. The finalised guidance applies … Continue Reading
