ECRSS

Fintechs blast banks over PSD2 direct access angst

European Commission

A group of fintech companies and associations are asking for changes to the second Payment Services Directive (PSD2) due to fears it will force them to become technologically dependent on banks. The coalition of 60 European Union (EU) based entities have signed a seven-page manifesto seeking the European Commission (EC) to make changes to the […]

Fintech start-ups in Europe to get up to €1.6bn in funding from EIF

Money for European fintech start-ups, but what about the UK?

The European Commission (EC) has pledged up to €400 million to the European Investment Fund’s (EIF) new fund-of-funds – for the money to be spent on start-ups in Europe, including in the fintech space. The EC will also look for three times more investment from institutional investors to make up to €1.6 billion available.

Banks face “mad rush” to prepare for MiFIR

Virginie O'Shea: MiFIR will leave no room for interpretation

Financial institutions will need to maintain records, report transactions and supply reference data under the European Commission’s forthcoming MiFIR regulation. But those who expect plenty of time for implementation and no regulatory conflicts are likely to be disappointed, according to a new report by analyst firm Aite.

Sinking the financial transaction tax

The financial transaction tax will be applied in 11 EU member states

Further uncertainty in the Eurozone has been prompted by unconfirmed reports that the European Commission is considering watering down the 11-nation proposals for a financial transaction tax – but any revisions may have to wait until September, following elections in Germany, according to sources close to the subject.

EC sets out blueprint for “deep and genuine” European fiscal union

Membership is not crucial to banking union

Full European banking union is more than five years away, but some of the important groundwork will need to be completed in the next 18 months to pave the way for changes to European Union treaties that will be required to complete the fiscal and econonomic union of member states.

EC steps back from European Banking Union end-of-year deadline

Van Rompuy: final plan to be decided in December

Plans to create a European Banking Union from the start of next year have fallen at the first hurdle, with a decision by the European Council at its meeting this week to change the ambitious timescale.

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