| E-Finance & Payments Law & Policy - Payments Services Directive Intensive |
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Following the adoption of the Payment Services Directive ("PSD") by the European Parliament on 24 April E-Finance & Payments Law & Policy will be holding a full day practical intensive on the latest developments with the PSD. This event will be co-hosted with lawyers from the international law firm Sidley Austin (UK) LLP. The PSD is a critical part of the EU's Single Euro Payments Area ("SEPA") which is scheduled to be launched on 1 January 2008 when banks are expected to offer new SEPA payment products. The PSD will have far reaching and important consequences for all those involved in the payments industry. The PSD will introduce a new category of licence for non-bank payment providers to be known as "payment institutions" and also introduce new requirements for all payment service providers including banks, e-money institutions and payment institutions. These new requirements include detailed information requirements to be provided to payment users and a set of statutory rights and obligations on both providers and users relating to such matters as liability for transactions and settlement times. This intensive will focus on: The PSD an overview/ background. SEPA and its relationship with the PSD. Who will be considered a payment institution and need to be licensed? What are the capital and other prudential requirements on payment institutions? How will the PSD and the E-Money Directive fit together? What do the provisions on open access to payment systems set out in the PSD mean for payment providers? What are the practical effects of the information and transparency requirements in the PSD? What do the provisions in the PSD on rights and obligations on payment providers and users, such as liability for transactions, mean in practice? What is the timetable for national implementation of the PSD? What practical steps should payment providers take to ensure compliance with the PSD?
There will also be an opportunity for questions and to discuss any issues raised to our expert panel. |
Location: London, UK
Contact: Sophia Butt -
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