The EMA responded to the Ireland’s Department of Business, Enterprise and Innovation consultation on gift voucher fees and expiry dates on 31 August 2018.
The EMA monitors and frequently responds to government and European consultations on regulation that impact the e-money and payment services industry. The relevant regulatory proposals and consultations are listed below.
The EMA submitted a Consultation Response to Draft EBA Guidelines on the conditions to be met to benefit from an exemption from contingency measures under Art.33(6) of the RTS on SCA and CSC on 13 August 2018.
The EMA submitted a response to HMRC consultation on Alternative method of VAT collection – split payment on 2 July 2018.
The EMA responded to HMRC Call for evidence on Online platforms’ role in ensuring tax compliance by their users on 11 June 2018.
The EMA responded to BaFin Consultation 05/2018 on Guidelines on AML law – Entwurf: Auslegungs- und Anwendungshinweise gemäß § 51 Abs. 8 Geldwäschegesetz on 11 May 2018.
The EMA submitted evidence for House of Commons Treasury Select Committee Digital Currencies Inquiry on 1 May 2018.
The EMA submitted a response to European Commission’s Consultation on Exchange of data to combat VAT fraud in the e-commerce on 25 April 2018.
The EMA responded to FCA Consultation paper 18/03 on SME access to the Financial Ombudsman Service and Feedback to DP15/7: SMEs as Users of Financial Services on 23 April 2018.
EMA expresses concern about the FCA’s proposals to expand the list of eligible complainants to the Financial Ombudsman Service to include SMEs and guarantors. This is a substantial departure from existing practice, and is likely to have a considerable impact, particularly on smaller financial service providers in the payment services sector, where disputes are likely to be complex, and where the financial services provider may themselves be an SME.
The EMA submitted a response to the Spanish Ministry of Economy, Industry and Competitiveness on the implementation of the Revised Payment Services Directive (PSD2) in Spain.