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ÂÜÀòžž LinkedIn Live: A Regulatory Roundup of June's Payments News
This month’s episode digs into June’s regulatory updates across the UK, EU and Australia, highlighting developments in MiCA, DORA and the regulation of BNPL products in Australia.
This month’s episode digs into June’s regulatory updates across the UK, EU and Australia, highlighting developments in MiCA, DORA and the regulation of BNPL products in Australia.
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Our ÂÜÀòžž Live series is your monthly window into the complex world of compliance and regulations, where our experts use our Horizon Scanning tool to review the biggest regulatory changes that have happened during the previous month.
In this episode, ÂÜÀòžž experts Luke Baker and Jimmie Franklin examine the regulatory updates across various regions in June 2024.
Highlights include:
- In the UK, the Payment Systems Regulator upheld strict anti-fraud timelines despite industry requests for extensions following a leadership change, while lawsuits against Visa and Mastercard for interchange fees were allowed to proceed.
- In the EU, the implementation of MiCA led to regulatory updates and questionnaires, while the European Commission introduced new standards under DORA, and the EU also imposed new sanctions on Russia, Sudan, and cyber-attackers.
- In Australia, the RBA considered requiring card networks to disclose scheme fees, and the Treasury moved to regulate BNPL products like traditional credit.
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