Europe: EBA consults on proposed guidelines on limited network exclusion under PSD2
On 15 July 2021, the EBA published a consultation paper (EBA/CP/2021/28) proposing guidelines on the limited network exclusion (LNE) under PSD2.
The EBA explains that Article 3(k) of PSD2 introduced an exclusion for services based on specific payment instruments that can be used only in a limited way. It believes that the implementation and application of the LNE requirements diverges significantly between member states, which impedes the single market for payment services in the EU and creates opportunities for regulatory arbitrage. The EBA also believes that consumers are sometimes unaware that they do not benefit from the protection envisaged under PSD2.
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Ian Bond, a member of the Law Society s wills and equity committee, says that you should first check if a grant of probate has been issued by the probate registry and obtain a copy of the will. These are public documents and you can request a copy of both from your cousin s nephew.
If he won t provide them, you can order them online for a small fee at probate search.service.gov.uk/#wills.
This will allow you to check if probate has been granted and that you actually are included in the final will, as your cousin may have changed it before she passed away. If the probate has not been granted, the executor might not have been able to administer the estate.
ASK TONY: Is my cousin s nephew denying me the legacy I was promised? thisismoney.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisismoney.co.uk Daily Mail and Mail on Sunday newspapers.
Bank scam victims could have a better chance of getting a refund using a little-known document.
The industry code of practice was introduced in October 2017 and lays out how payment providers should protect their customers from fraud.
However, the 31-page document - the British Standards Institution s (BSI) code of practice PAS 17271:2017 - is not online and costs £102 to buy.
Fraud refunds: The industry code of practice was introduced in October 2017 and lays out how payment providers should protect their customers from fraud
Yet the document has been used to help secure refunds for fraud victims denied by their bank.
The code spells out that organisations should have measures in place to detect suspicious activity that might indicate fraud.
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United Kingdom: FCA publishes feedback statement on Open Finance
Some of the key findings that the FCA draws out in its feedback statement are:
A legislative framework would be needed for open finance to develop fully, both to provide any statutory right to data access and to support a regulatory framework.
In addition to the regulatory framework, the following building blocks would be needed for a sustainable open finance ecosystem to develop – either in support of voluntary adoption or to support future legislation:
consumer protections informed by an ethical framework;
a liability model;
an implementation entity that is funded and governed equitably; and