• New Regime for the Regulation of Payment Services in Europe
  • September 29, 2009
  • Law Firm: Shearman & Sterling LLP - New York Office
  • The EU Payment Services Directive, which establishes a new regulatory regime for payment service providers, is due to take effect in most EEA member states by 1 November 2009. Many firms that are currently unregulated will require authorisation or registration for the first time. In addition, many regulated institutions offering payment services will need to consider whether they must become separately authorised or registered by national regulators in order to begin or continue offering such services.