Prepaid Expo Europe 2013
Prepaid Expo Europe 2013, 17 – 18 April 2013, Park Plaza Victoria, London, UK
Thaer Sabri, the EMA Chief Executive provided an overview of EU payments regulation.
Publications and events
European Commission proposal for a Directive on network and information security (NIS)
The European Commission has yesterday published a proposal on a Directive for Network and Information Security (NIS) in Europe. This proposal requires Member States to set up Computer Emergency Response Teams (CERTs), and to adopt national NIS strategies and national NIS cooperation plans.
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EC Proposals for 4th Anti-Money Laundering Directive and Regulation on Funds Transfer Information
The European Commission has today adopted two proposals in the area of Anti-Money Laundering:
- A directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing
- A regulation on information accompanying transfers of funds.
The two proposals will have a considerable impact for the industry, given the changes in scope, definitions and the proposed elimination of the Simplified Due Diligence regime. …
4th Annual World Cards and Payments Summit 2013
19 – 20 February 2013, Dubai UAE
Thaer Sabri, the EMA Chief Executive participated as Chairman.
The Summit was highly significant for cards and payments specialists and it brought together over 150 global leaders from payment sector across banks, mobile Operators, merchants, retailers, vendors, payment processors, consultants and regulators.
ECB publishes recommendations for security of internet payments
Yesterday, the European Central Bank published its recommendations for the security of Internet payments. These recommendations were developed by the European Forum on the Security of Retail Payments, SecuRe Pay. This Forum of regulators and supervisors was set up in 2011 as a voluntary cooperative initiative between authorities.
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ECB consultation on security requirements for payment account access services (deadline: April 12, 2013)
Yesterday, the European Central Bank released a draft version of the Recommendations for payment account access services for public consultation. These recommendations were developed by the European Forum on the Security of Retail Payments, SecuRe Pay (the “Forum”). In the Forum all the EU supervisors work together with the aim to foster the establishment of a harmonised EU/EEA-wide minimum level of security.
The draft report lists a number of Recommendations which seek to ensure that the Third Party Providers of Payment Account Access Services and the involved Governance Authorities (scheme owners) meet the following requirements: …
SecuRe Pay releases final recommendations on the security of internet payments
Today, the ECB released a comprehensive set of Recommendations for the security of internet payments, following a two-month public consultation carried out in 2012. The Recommendations represent the first achievement of the European Forum on the Security of Retail Payments (SecuRe Pay), a voluntary cooperative initiative between relevant authorities from the European Economic Area (EEA) – supervisors of payment service providers and overseers in particular.
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Delivering on the Promise of Digital Money
Delivering on the Promise of Digital Money, 29 January 2013, the Citi & Imperial College London, UK
Thaer Sabri, the EMA Chief Executive provided a historical perspective on new means of payment.
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EMA response to FSA consultation on regulatory reform
The FSA released a consultation on regulatory reform that outlined a number of questions and issues related to the new governance roles in UK supervision of financial institutions. The EMA briefly responded to this consultation to propose a practical way to facilitate the transition to the regime with the Financial Conduct Authority as the new regulator.
EMA response to HMT consultation: Setting the strategy for UK payments
In July 2012, HM Treasury published the document: Setting the strategy for UK Payments as part of a consultation on the best models for the strategy development of the payment industry. The document outlined three options:
- improve the functioning of the existing Payments Council,
- introduce a new public body to set strategy across the UK payments industry: the Payments Strategy Board,
- introduce a utility type statutory regulator for the payments industry.
The EMA response to the consultation outlined that the representation of innovative payment service providers can be improved considerably. …
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