Publications and events

EMA Compliance Support: Consumer Duty Board Report Session

The deadline to prepare and approve the firm’s first Consumer Duty annual board report is fast approaching on 31 July 2024!

If you require last minute assistance with this task, you may wish to attend the EMA’s dedicated session next week. 

SESSION + RESOURCE

The session is part of the EMA Compliance Support Track and will include: 

(i) Training Session on the Board reporting requirement 

(ii) Q and A opportunity for attendees to launch Consumer Duty-related questions; and 

(iii) a detailed Template / Example Board report that we will work through during the session in order to equip the Consumer Duty Champion / Compliance Officer / Responsible Person with the necessary skills to tailor the Template / Example report to the firm.

The Template / Example Board Report is detailed specifically to the e-money and payments business and contains example KPIs and analysis. 

PRICE 

The cost to attend the Session + Template / Example Board Report is £400 (ex VAT) per EMA member firm. Everyone with an email address from the registered member firm may attend. A recording of the training session will also be provided.

* Please note this training is available exclusively to EMA members

REGISTER 

Please register using the EMA Portal. 

REGISTER

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Industry Call To Reconsider Approach On Virtual IBANs

The EMA co-signed a joint industry letter on virtual IBANs:

The EU digital payment industry urges Member States to reconsider the Belgian Presidency proposal to assimilate virtual IBANs to traditional IBANs, and to mandate payment service providers to open a payment account with a credit institution in each Member State they operate in. The result will be to materially reduce the ability of payment service providers operating cross-border to help consumers and merchants manage their payments and overcome IBAN discrimination. More evidence is needed on the risks implied by virtual IBANs, and the potential risk mitigation measures should be assessed against their impact on competition, innovation and consumer choice in the EEA.

Read the full letter here

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DORA implementation for e-money and payment service providers

The EMA is launching a working group on digital operational resilience for e-money issuers and payment service providers (“DORA 2024“).

The DORA regulation, directive and numerous RTS, ITS and guidelines will apply from January 2025. We will be working together to implement DORA within the EMI and PI business and be ready for this deadline. 

DORA 2024 working group sessions form part of the EMA’s compliance support track for members and will be purely practical in nature. Documents, checklists, templates etc. will be provided to attendees. 

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