Hardback
The Payment Services Directive II
A Commentary
9781839105678 Edward Elgar Publishing
This comprehensive and essential Commentary examines both the origins and effect of the EU’s 2015 Payment Services Directive (PSD2). Addressing a significant gap in the available literature, the book is divided into two parts: Part I analyses the legislative provisions of the Directive, while Part II explores the PSD2 implementation experience in selected EU Member States as well as in the United Kingdom.
More Information
Contributors
Contents
More Information
This comprehensive and essential Commentary examines both the origins and effect of the EU’s 2015 Payment Services Directive (PSD2). Addressing a significant gap in the available literature, the book is divided into two parts: Part I analyses the legislative provisions of the Directive, while Part II explores the PSD2 implementation experience in selected EU Member States as well as in the United Kingdom.
Key features include:
• An innovative, systematic analysis of the Directive by leading scholars and practitioners
• An in-depth legal and economic examination of the Directive’s provisions and how they relate to other relevant EU legislation
• A comprehensive guide to the Directive’s implementation in a number of EU member states with reference to national legislation and jurisprudence
The original analytical approach will ensure that this Commentary proves to be crucial reading for scholars of EU financial, banking and consumer protection law. It will also be a critical resource for practitioners, compliance and authority officers, and other professionals working in this field.
Key features include:
• An innovative, systematic analysis of the Directive by leading scholars and practitioners
• An in-depth legal and economic examination of the Directive’s provisions and how they relate to other relevant EU legislation
• A comprehensive guide to the Directive’s implementation in a number of EU member states with reference to national legislation and jurisprudence
The original analytical approach will ensure that this Commentary proves to be crucial reading for scholars of EU financial, banking and consumer protection law. It will also be a critical resource for practitioners, compliance and authority officers, and other professionals working in this field.
Contributors
Contributors: M. Božina Beroš, R.O. Caminal, C. Conreder, C.G. Corvese, D. D’Alvia, Divissenko, B. Geva, G. Gimigliano, E. Gratianu, C. Iacomini, P. Kotáb, A.R. Lodder, S. Mezzacapo, M. Miernicki, J. Moravec, K. Morbee, I. Parać Vukomanović, M. Roussille, V. Santoro, J. Škrabka, J. Terämaa, N. Vardi, R. Wandhöfer, F. Zunzunegui
Contents
Contents:
Foreword: Introduction to the PSD2 Commentary xxvi
Acknowledgements xxviii
PART I
1 Introduction to The Payment Services Directive II: A Commentary 2
Gabriella Gimigliano and Marta Božina Beroš
2 Title I: ‘Subject matter, scope and definitions’ (Art. 1–Art. 4): The regulated field (object and subject) 5
Benjamin Geva
3 Title II, Chapter 1, ‘Payment institutions’ (Arts 5–21) 31
Ciro G. Corvese
4 Title II, Chapter 1, Section 3–4, ‘Competent authorities and supervision’ (Arts 22–30), ‘Exemptions’ (Arts
31–34) 66
Marta Božina Beroš
5 Title II, Chapter 2, ‘Common Provisions’ (Arts 35–37) 86
Nikita Divissenko and Gabriella Gimigliano
6 Title III, Chapters 1, 2, 3 (Arts 38–58) 103
Gabriella Gimigliano
7 Title III, Chapter 4 (Arts 59–60) 122
Noah Vardi
8 Title III, Chapter 1 (Arts 61–63) 133
Gabriella Gimigliano
9 Title III, Chapter 2, ‘Authorisation of payment transactions’ (Arts 64–77) 146
Gabriella Gimigliano
10 Title IV, Chapter 3, ‘Rights and obligations in relation to the provision and use of payment services:
execution of payment transactions’ (Arts 78–93) 163
Benjamin Geva
Nikita Divissenko
12 Title IV, Chapter 5, ‘Operational and security risks and authentication’ (Arts 95–98) 190
Ruth Wandh.fer
13 Title IV, Chapter 6, ‘ADR procedures for the settlement of disputes’ (Arts 99–103) 210
Arno R. Lodder
14 Title IV, ‘Delegated acts and regulatory technical standards’ (Arts 104–106) 223
Martin Miernicki
15 Title VI, ‘Final provisions’ (Arts 107–117) 232
Gabriella Gimigliano
PART II
16 Implementation of the PSD2 in Austria 246
Martin Miernicki
17 Transposition of the PSD2 into Croatian national legislation 265
Ivana Parać Vukomanović
18 Transposition of PSD2 into Czech law 283
Petr Kot.b, Jiř. Moravec and Jan Škrabka
19 PSD2 implementation in Estonia 305
Nikita Divissenko
20 Implementation of the PSD2 in Finland: a Nordic view on payment services regulation 319
Jyri Ter.maa
21 The transposition of the PSD2 into French law 338
Evelina Gratianu and Myriam Roussille
22 Transposition of PSD2 into German law with special consideration of the regulatory and civil law changes
357
Christian Conreder
23 The transposition of the PSD2 in Italy: policies and rules 387
Costanza Iacomini and Simone Mezzacapo
24 Spain’s implementation of PSD2 408
Fernando Zunzunegui
25 PSD2, Brexit and the financial regulation of payment systems in the UK 426
Daniele D’Alvia, Katrien Morbee and Rodrigo Olivares Caminal
Appendix 445
Index
Foreword: Introduction to the PSD2 Commentary xxvi
Acknowledgements xxviii
PART I
1 Introduction to The Payment Services Directive II: A Commentary 2
Gabriella Gimigliano and Marta Božina Beroš
2 Title I: ‘Subject matter, scope and definitions’ (Art. 1–Art. 4): The regulated field (object and subject) 5
Benjamin Geva
3 Title II, Chapter 1, ‘Payment institutions’ (Arts 5–21) 31
Ciro G. Corvese
4 Title II, Chapter 1, Section 3–4, ‘Competent authorities and supervision’ (Arts 22–30), ‘Exemptions’ (Arts
31–34) 66
Marta Božina Beroš
5 Title II, Chapter 2, ‘Common Provisions’ (Arts 35–37) 86
Nikita Divissenko and Gabriella Gimigliano
6 Title III, Chapters 1, 2, 3 (Arts 38–58) 103
Gabriella Gimigliano
7 Title III, Chapter 4 (Arts 59–60) 122
Noah Vardi
8 Title III, Chapter 1 (Arts 61–63) 133
Gabriella Gimigliano
9 Title III, Chapter 2, ‘Authorisation of payment transactions’ (Arts 64–77) 146
Gabriella Gimigliano
10 Title IV, Chapter 3, ‘Rights and obligations in relation to the provision and use of payment services:
execution of payment transactions’ (Arts 78–93) 163
Benjamin Geva
Nikita Divissenko
12 Title IV, Chapter 5, ‘Operational and security risks and authentication’ (Arts 95–98) 190
Ruth Wandh.fer
13 Title IV, Chapter 6, ‘ADR procedures for the settlement of disputes’ (Arts 99–103) 210
Arno R. Lodder
14 Title IV, ‘Delegated acts and regulatory technical standards’ (Arts 104–106) 223
Martin Miernicki
15 Title VI, ‘Final provisions’ (Arts 107–117) 232
Gabriella Gimigliano
PART II
16 Implementation of the PSD2 in Austria 246
Martin Miernicki
17 Transposition of the PSD2 into Croatian national legislation 265
Ivana Parać Vukomanović
18 Transposition of PSD2 into Czech law 283
Petr Kot.b, Jiř. Moravec and Jan Škrabka
19 PSD2 implementation in Estonia 305
Nikita Divissenko
20 Implementation of the PSD2 in Finland: a Nordic view on payment services regulation 319
Jyri Ter.maa
21 The transposition of the PSD2 into French law 338
Evelina Gratianu and Myriam Roussille
22 Transposition of PSD2 into German law with special consideration of the regulatory and civil law changes
357
Christian Conreder
23 The transposition of the PSD2 in Italy: policies and rules 387
Costanza Iacomini and Simone Mezzacapo
24 Spain’s implementation of PSD2 408
Fernando Zunzunegui
25 PSD2, Brexit and the financial regulation of payment systems in the UK 426
Daniele D’Alvia, Katrien Morbee and Rodrigo Olivares Caminal
Appendix 445
Index
