Payments and e-money institutions seeking authorisation in Ireland
By Russell Burke, Senior Associate Consultant at fscom Nearly 50 payments and e-money firms have chosen Ireland as their European base, including some of the biggest global names in the fast-growing sector. This should come as no surprise because Ireland represents a very attractive market. Among its many benefits, it offers a corporate tax rate […]
Dear CEO: Central Bank of Ireland sets expectations for Payment and E-Money firms
It’s not quite a Christmas card, but all Payment and E-money firms in Ireland received a “Dear CEO” letter from the Central Bank of Ireland earlier this month. The letter from Mary-Elizabeth McMunn, Director of Credit Institutions Supervision, sets out the actions Boards and senior management are expected to carry out to ensure ongoing compliance […]
Outsourcing function, not responsibility
As of today, credit institutions, MiFID investment firms, e-money institutions and payment institutions must maintain a register of outsourcing agreements that can be made available to the FCA on request and new arrangements must meet the European Banking Authority (‘EBA’) Guidelines. Existing arrangements must be made compliant by the end of 2021. Mindful of the […]
REP017: Are You Ready To Submit Your Fraud Report by 31 August?
Under PSD2, payment services providers across the EU are required to provide statistical data on fraud to their respective competent authority. In the UK, relevant firms are required to collect and submit data on the volume and value of all payment transactions, as well as the volume and value of fraudulent transactions, and provide this […]
