EU consultations
Dear members – the time has come! PSD2 is undergoing a review. This is an opportunity for us all to have our say. The European Commission invites you to take part in the following consultations (the relevant links to the consultations are attached):
Targeted consultation on PSD2 – consultation on specific aspects of the EU payments framework. – Deadline: 5 July 2022
Public consultation on PSD2/Open Finance – general guidance for non-technical audiences. – Deadline: 2 August 2022
Targeted consultation on Open Finance – consultation on specific aspects of the open finance/data sharing framework. – Deadline: 5 July 2022
Brief description:
The “Targeted consultation on PSD2“ has been launched to gather information to assist with the revision of the Payment Services Directive (PSD2). In particular, the consultation aims to assess the effectiveness, efficiency, coherence, relevance and EU added value of the directive. It includes questions requiring in-depth knowledge and/or (professional) experience in the field of payment services, as well as questions on the more technical aspects of PSD2.
In parallel with this ‘targeted consultation’, a general „Public consultation on PSD2/Open Finance“ has been launched. It is aimed at an audience with a general understanding of the payments sector and the relevant legislation. This is the only consultation available in German.
The third consultation in this series, “Targeted consultation on Open Finance Framework and Data Sharing in the Financial Sector“complements the aforementioned consultations on the PSD2 review. This consultation is aimed at various stakeholders: customers of financial services firms (consumers and business customers), financial institutions and other organisations that either hold data or intend to use it.”
How can the VDT support you, and how can you get involved yourself?
In its work on the consultations, the VDT will focus on the ‘corporate privilege’. In this context, the VDT is already in contact with the EACT and its affiliated national associations. A joint meeting with a representative of the European Commission is currently being arranged.
We will endeavour to come up with a suggested wording for you as soon as possible, which you may wish to include in your own response to the consultation.
As the consultations do not focus explicitly on the group privilege but take a broad approach, we would like to offer to address, alongside the group privilege, other issues that are important to you. To this end, we would ask you to finalise and formulate the topics to be addressed, along with details of where in the consultations these should be included. Please bear in mind the relevant due date. Should we have any questions regarding your comments, we will contact you. You are, of course, free to respond to the consultations in your own name as well.
Deadlines
Please send us your contributions for the consultations by the due date 05.07.2022 Please by 24.06.2022 to.
When submitted for consultation with a deadline 02.08.2022 please by 11.07.2022.
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