BaFin IN GERMANY LATEST TO DEFER PSD2 AUTHENTICATION RULES ENFORCEMENT

An article from Out-Law on 27th August reported the comments of an expert that online payment processes in Germany are unlikely to adhere to new standards on customer authentication and security any time soon.  The EU-wide rules were due to take effect from 14th September.  Fears over readiness has led the EBA to tell national regulators that they could delay their enforcement of the new rules in certain circumstances to give businesses more time to update their systems and processes, and a number of regulators across EU member states have since outlined their plans to delay enforcement – for example, by up to 3 years in France, and by up to March 2021 by the UK.

https://www.pinsentmasons.com/out-law/news/bafin-latest-to-defer-psd2-authentication-rules-enforcement

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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