Material legal framework that payment service providers in the area of IT regulatory law need to know
New regulations, new obligations – with NIS2 and DORA, the requirements for payment service providers under IT supervision…
Escrow accounts are becoming segregated accounts (only)
Changes to the German safeguarding regime of customer funds pursuant to Section 17 of the German Payment Services…
BaFin Update: New Requirements in Circular 08/2023 for ZAG Institutions
ZAG institutions take note! BaFin has updated its Circular 08/2023 on the monitoring and governance of banking products…
Stronger protection for customer funds: ZAG reform brings clarity
German government plans to clarify insolvency protection for payment service providers’ fiduciary accounts: ZAG reform in ZuFinG II…
Minimum risk management requirements for ZAG institutions – ZAG-MaRisk
On 27 May 2024, the German Federal Financial Supervisory Authority (“BaFin”) published the final version of its circular…
One-way street FiDA – why well-intentioned is not well done
With its proposal for a regulation on a framework for access to financial data (Financial Data Access –…
The group privilege in payment services regulation
In a nutshell, the Payment Services Supervision Act (ZAG) stipulates that payment transactions and associated services within a…
Minimum requirements for risk management at ZAG institutions (2)
Update: The ZAG-MaRisk was published on May 27, 2024 after an extended consultation. According to the BaFin’s letter…
Minimum requirements for risk management at ZAG institutions (1)
Update: The ZAG-MaRisk was published on May 27, 2024 after an extended consultation. According to the BaFin’s letter…
The e-money business | FinTech online course #4
E-money transactions are defined as the issuance of electronic money. It is therefore essential to know what e-money…
Authorisation procedure in accordance with the ZAG | FinTech online course #17
6In case you wish to carry out an e-money-business or to provide banking, payment, or financial services, you…
Requirements for maintaining a BaFin Licence | FinTech online course #18
In our yesterday’s blog post, we dealt with the question how to obtain a BaFin licence for payment…
Outsourcing | FinTech online course #19
The term outsourcing appears in several laws, e.g. in section 26 ZAG, section 25b KWG and section 17…