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Payments & FinTech Lawyer

The EBA’s draft Guidelines on Security Measures for Operational and Security Risks under PSD2

The European Banking Authority (‘EBA’) issued on 5 May 2017 a Consultation Paper on its Guidelines on Security Measures for Operational and Security Risks under PSD2, guidelines that are issued pursuant to Article 95 of PSD2, which provides that Member States must ensure that those entities authorised under PSD2 to provide payments (‘PSPs’) establish frameworks to manage operational and security risks relating to the payment services they provide. Emma Wright and Sophie Van Wingerden of Kemp Little dissect the draft Guidelines and the implications for PSPs.

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