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Tuesday, July 14, 2020 | History

2 edition of EC e-money directive background, problems, and prospective found in the catalog.

EC e-money directive background, problems, and prospective

Rolf H. Weber

EC e-money directive background, problems, and prospective

by Rolf H. Weber

  • 55 Want to read
  • 33 Currently reading

Published by London Institute of International Banking, Finance and Development Law in London .
Written in English

    Places:
  • European Union countries.
    • Subjects:
    • Electronic funds transfers -- Law and legislation -- European Union countries.

    • Edition Notes

      StatementRolf H. Weber.
      SeriesEssays in international financial & economic law,, no. 31
      ContributionsLondon Institute of International Banking, Finance, and Development Law., Queen Mary and Westfield College (University of London). International Financial Law Unit., Southern Methodist University. Institute of International Banking and Finance.
      Classifications
      LC ClassificationsKJE2188 .W43 2001
      The Physical Object
      Pagination21 p. ;
      Number of Pages21
      ID Numbers
      Open LibraryOL3627756M
      LC Control Number2002416774
      OCLC/WorldCa49401890

      Banking regulation in the UK: overviewby Bob Penn, Allen & Overy Related ContentThis Banking Regulation guide provides a high level overview of the governance and supervision of banks, including legislation, regulatory bodies and the role of international standards, licensing, the rules on liquidity, foreign investment requirements, liquidation regimes and recent trends in the regulation of.   The review of the PSD will bring in its wake changes to the scope of the E-Money Directive (EMD) requirements that apply to the issuers of e-money (i.e. a pre-paid store of value stored Author: Sarah Boswall.

      Request a Free Trial. As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way. These Regulations implement Directive //EC of the European Parliament and of the Council of 16th September on the taking up, pursuit and prudential supervision of the business of electronic money institutions (“the Directive”) (OJ No L , , p).

      Cyprus Guidelines on Completing and Submitting Applications for Authorisation as an Electronic Money Institution (‘EMI’) and Payment Institution under Directive [“the EMD”]; the Appointment of Agents & the Establishment of Branches. Introduction. The new e-money regulatory law affects not only e-money issuers but also, for the first time, intermediaries of e-money issuers. future. We will contact ELMIs and small e-money issuers to discuss what information they would need to provide to move to the new regulatory regime. For businesses considering issuing e-money the next step is to get authorised or registered. The application pack will be available on the e-money section of our website from mid-February


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EC e-money directive background, problems, and prospective by Rolf H. Weber Download PDF EPUB FB2

EC e-money directive background, problems, and prospective. London: London Institute of International Banking, Finance and Development Law, © (OCoLC) The E-Money Directive or the electronic money directive (//EC, originally /46/EC) regulates electronic payment systems in the European Union.

The aim is to enable new and secure electronic money services and to foster effective competition between all market participants. As per Article 2(2) of Directive //EC, “e-money” means “electronically, including magnetically. Information about Directive //EC including date of entry into force and a link to the summary.

Amending and supplementary acts. Implementation by EU countries. Guidance on and prospective book implementation and interpretation of the law.

Related information: E-money. Share this page. and prospective book The e-money directive (EMD) sets out the rules for the business practices and supervision of e-money institutions. The directive aims to lay the foundations for a single market for e-money services in the EU.

The directive has provisions to. align EU requirements for e-money services and put in place coherent set of requirements for obtaining a. The European Commission has published a report to the European Parliament and the Council on the implementation and impact on the Second Electronic Money Directive (EMD2).The Commission has also published an annex to the report that sets out the number of e-money institutions that are active in each Member State.

discussed the status of the e-money directive and its relevance to mobile industry • Mobile operators ask and receive preferential treatment from EC In GSM Europe requested a proportional treatment under the e-money directive: The E-money directive is important as.

Policy background What is being done and why Directive /46/EC of the European Parliament and Council of 18th September on the taking up, pursuit of and prudential supervision of the business of electronic money institutions (“the first Directive”) was File Size: 4MB. Directive //EC on the taking-up, pursuit and prudential regulation of the business of electronic money institutions amending Directives /6-/EC and /48/EC and repealing Directive /46/ Size: KB.

The e-money directive was published in the Offi cial Journal of the European Communities on 27 October and was to be implemented in memb er states by Ap The directiveAuthor: Malte Krueger. E-Money Directive – further delays to its review 05/01/ 09/06/ AJO (Note: the below is a high level review of certain potential issues and is not to be relied upon in any definitive manner nor as legal and/or regulatory advice).

- The Case of E-Money Regulation in the EU- Background Paper No. 5 Electronic Payment Systems Observatory (ePSO) Technical Report (PDF Available) January Author: Malte Krueger. Directive //EC of the European Parliament and of the Council (16 September ) on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives /60/EC and /48/EC and repealing Directive /46/EC (Text with EEA relevance) (Second E-money Directive – 2EMD).

It is widely accepted that the first Emoney Directive did not provide a regulatory framework that cultivated technological innovation, nor grow a market of payment service providers offering credible competition to the banking sector.

Emoney Directive 2 aims to overcome some of its predecessor’s challenges. In particular, Emoney Directive 2: Clarifies the definition of “e-money. There is no business like e-business, a colleague used to say.

The nature of money involved in doing business, online as well as offline, is becoming increasingly electronic. Christina Riefa (Brunel University) provides an insightful overview of the EU initiatives over the years addressing both e-money and payment services.

The topic is complex, as for instance illustrated by the Articles Cited by: 2. The E­Money Directive‘s benefits & areas for Revision of the E­Money Directive and the wider context of the new legal of e­money I happened to work at the European Commission. I was seconded by the German supervisory authority to the Banking Department in DG 15 and.

low-value transactions. To avoid an overlap between the PSD and the e-money Directive, it is nec-essary to clarify that the own-funds rule under the e-money Directive prevails over the PSD own-funds requirements where the transaction is effected in e-money (see section ).File Size: 4MB.

The main EU initiatives regulating ecommerce are the Distance Selling Directive (Directive 97/7/EC), Electronic Commerce Directive (Directive 00/31/EC) and the E-Money Directive (Directive /46/EC) The Distance Selling Directive has been incorporated into UK law in the form.

The EMA was founded in October by a group of electronic money issuers and prospective issuers to represent the interests of industry. The group took part in a regulatory working group set up in response to UK government consultation on the implementation of the E-Money Directive.

The group was then formalized into the EMA and its remit extended to issues of general interest to on: Central London, UK. One common type of e-money is the 'electronic purse,' where users store relatively small amounts of money on their payment card or other smart card, to use for making small payments.

E-money can also be stored on (and used via) mobile phones or in a payment account on the Internet. The E-Money Directive (//EC) (EMD) aims to. Background and policy context On 20 Maya new framework on anti-money laundering and counter-terrorist financing ("AML/CFT") was adopted.

These new rules are, to a large extent, based on the international standards issued by the Financial Action Task Force (FATF) 1 and consist of: (I) Directive (EU) / on the prevention of the use of the financial system for the purposes of.

Introduction Directive //EG of the European Parliament and of the Council of 16 September on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives /60/EC and /48/EC and repealing Directive /46/EC, also known as the second e-money directive, was recently transposed into Belgian law by the law of 27 November.

Laying of regulations to implement the new E-Money Directive (PDF file MB) PDF, MB, pages This file may not be suitable for users of assistive : HM Treasury.

The aim of the PSD is to ensure that payments within the EU – in particular credit transfer, direct debit and card payments – become as easy, efficient, and secure as domestic payments within a Member State, by providing the legal foundation to make the Single Euro Payments Area (SEPA) possible.

The PSD will reinforce the rights and protection of all the users of payment services.