Seminaries "Banktechnisch / compliance / successie"

Getting ready to implement PSD2 in 2018 - NEW

Doelstelling

This session aims at providing an overview of the latest guidance on the upcoming implementation of PSD2.

In particular, the session will take a deep dive in some of PSD2’s most discussed topics, such as scope, liability, value dating, and particularly access to accounts.

Doelgroep

Legal, compliance, data, IT and security officers and managers, as well as other interested representatives of banks, payment institutions, and other financial institutions.

People involved with payment products, channels & operations.

Voorkennis

Advanced Level: This training will be put into practice the theoretical knowledge you already acquired during 'basic level trainings' (Deepening)

General context of PSD2 – no in-depth knowledge or preparation is required

Programma

Content

The second payments directive (PSD2) entails a number of important challenges for financial institutions (notably banks and payment institutions). In particular, PSD2 obliges financial institutions to provide access to their payment accounts and account information to the so-called ‘third party providers’ (TPPs). Moreover, building on PSD1, PSD2 brings a wide variety of new legal requirements on complaints, payment execution, secure communication and authentication, liability etc.

This session aims to provide general guidance and insights on how to implement PSD2 for the following reasons:

  • PSD2’s impacts resonate throughout the full organization, affecting the entire operating model (not only payments systems)
  • PSD2 has challenging deadlines, as PSD2 enters into force on 13th January 2018
  • PSD2 is principle-based and remains subject to a high level of uncertainty, as most guidance remains outstanding until 2017-2018 (e.g. regulatory technical standards of EBA on various PSD2 topics)

The session breaks down PSD2 in two parts, and provides an overview of the latest guidance for each part.

Part 1. XS2A - Services with respect to access to customer accounts and account information (‘XS2A’) have been further broadened and regulated by PSD2.

Topics to be addressed include:

  • Scope of accounts that must comply with XS2A a
    • What is a ‘payment account’ (e.g. credit card account)
    • When is an account ‘accessible online’
  • Contractual arrangements between the bank and the TPPs
  • Information to be provided at the request of TPPs (e.g. sensitive payment data)
  • Interaction with the upcoming rules on AML and privacy (GDPR)
  • Charging of costs/fees to customers/TPPs

Part 2. Other changes - PSD2 expands the scope of the current payment regulatory framework to one-leg-out payments and non-EEA currencies (incl. FX transactions). It also introduces new rules on liability, complaints, consumer protection, etc.

Topics to be addressed include:

  • Rules regarding scope, value dating, availability of the funds, FX-conversion, pre-post trade information requirements for the various types of payments
  • Liability regime vis-à-vis the TPPs (i.e. refund rights, right of recourse) and the client (value dated correction measures)
  • Legal framework for unauthorized payments and deficient payments
  • New complaint deadlines

Practical aspects

Duration: a half day training

Hours: 1pm30 - 5pm (3 training hours a day)

Address: Febelfin Academy, Aarlenstraat/Rue d'Arlon 80, 1040 Brussels

Extra information: This training will be given in English!

Methodologie

Form: Classical

Teaching Material: Powerpoint presentation (slides)

Datums

Getting ready to implement PSD2: state of play - List of interest

Getting ready to implement PSD2: state of play

  • Getting ready to implement PSD2: state of play
    Datum: wachtlijst
  • Getting ready to implement PSD2: state of play
    Datum: wachtlijst
  • Getting ready to implement PSD2: state of play
    Datum: wachtlijst