Included in this issue: PSR statement on free-to-use cash machine closures; FCA and PSR's Charles Randell on big data and FinTech; ECB executive: central banks should not rush into DLT; European Data Protection Board—protecting personal data in context of PSD2


UK

PSR statement on free-to-use cash machine closures 

The Payment Systems Regulator (PSR) has issued a statement on access to cash machines. The PSR said that, according to LINK, the cash machine operator, 500 cash machines closed each month in the UK between December 2017 and May 2018. However, 85% were pay-to-use, so do not fall within the PSR’s access requirements.

PSR, 13 July 2018

FCA and PSR's Charles Randell on big data and FinTech

The chair of the FCA and PSR, Charles Randell, has given a speech on big data, algorithms, AI and the potential impact on financial services and society at large. Mr Randell said the UK’s FinTech industry is world leading and bursting with new ideas, but ‘there is no room for complacency’.

FCA, 11 July 2018

Worldwide

ECB executive: central banks should not rush into DLT 

The Bank for International Settlements has published a speech by Benoît Cœuré, a member of the executive board of the European Central Bank (ECB), urging central banks to be wary of distributed ledger technology (DLT) and blockchain, and concentrate on using less-disruptive existing technologies to make current payment systems more efficient and safer.

ECB, 17 July 2018

European Data Protection Board—protecting personal data in context of PSD2

The European Data Protection Board (EDPB) published a detailed letter to Sophie in’t Veld MEP, clarifying a number of issues related to the protection of personal data in the context of PSD2.

EDPB 5 July 2018

Key contacts

Amanda Hulme

Amanda Hulme

Partner, Head of Financial Regulation
London

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Fiona Ghosh

Fiona Ghosh

Partner, Commercial
United Kingdom

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Bruce Kilpatrick

Bruce Kilpatrick

Partner, Head of Competition
London

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William James

William James

Partner, Corporate
London

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