Our regulatory and compliance consultants advise international and domestic payment service providers and e-money institutions.
We have incomparable expertise to provide regulatory and compliance services relating to the EU payments regulatory regime, including:
- Providing advice on obligations arising from the second Payment Services Directive (PSD2) and the second Electronic Money Directive (EMD2) as well as PSD2’s and EMD2’s local implementations in each EU/EEA member state.
- Providing a full-service authorisation package for licensure as a payment institution or an electronic money institution in any EU/EEA member state.
- Advising on initial capital requirements, safeguarding of funds and corporate governance
- Providing advice on the exclusions under PSD2 or EMD2, such as the Limited Network Exemption (LNE)
- Advising on obligations regarding the use of branches and agents under PSD2 and EMD2
- Providing advice on the obligation to establish a central point of contract and, in certain locations, provide a central point of contact to liaise with the local regulator.
- Drafting and negotiating contracts for outsourced services to ensure compliance with PSD2
- Preparing and drafting framework contracts for payment services to ensure compliance with conduct of business rules including information requirements, changes and termination, payment service provider’s liability and refunds
- Advising on major incident report, notifications and timelines, recommending best practices
- Providing advice on alternative dispute resolution procedure under PSD2, access for consumers and micro-enterprises