Consultations

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.

EMA response to EBA Consultation on draft Amendment to RTS on SCA regarding 90 day SCA exemption

EMA response to EBA Consultation on draft Amendment to RTS on SCA regarding 90 day SCA exemption Read More »

EMA letter to HMT re Economic Crime Levy

The EMA responded to HM Treasury draft legislation on Economic Crime (Anti-Money Laundering) Levy.

The EMA strongly urge HMT to review the revenue-based model for the levy again, as – according to the definitions of turnover and revenue in the draft legislation – it will have a hugely disproportionate impact on startups in the Fintech and PSP sector, as well as firms that are growing but remain loss-making. This impact is not necessarily reflective of the AML/TF risk posed by these firms either.

View the full letter here

EMA letter to HMT re Economic Crime Levy Read More »