EU consultations
Dear members - the time has come! PSD2 is undergoing a review. We all have the opportunity to get involved. The European Commission invites you to participate in the following consultations (the respective links to the consultation are attached):
Targeted consultation on PSD2 - consultation on specific aspects of the EU payments framework. - Deadline 05.07.2022
Public consultation on PSD2/Open Finance -general consultation for non-technical audiences. - Deadline 02.08.2022
Targeted consultation on Open Finance -consultation on specific aspects of the open finance/data sharing framework. – Deadline 05.07.2022
Brief description:
The "Targeted consultation on PSD2" was launched to gather information to help with the revision of the Payment Services Directive (PSD2). In particular, it aims to assess the effectiveness, efficiency, coherence, relevance and EU added value of the directive. It includes questions that require in-depth knowledge and/or (work) experience in the area of payment services, as well as questions on the more technical topics of PSD2.
In parallel to this "targeted consultation", a general „Public Consultation on PSD2/Open Finance" was introduced. It is aimed at an audience with general knowledge of the payments industry and the relevant legislation. Only this consultation is also available in German.
This third consultation "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 organisations (consumers and corporate customers), financial institutions and other businesses that either hold or intend to use data.
How can the VDT get involved on your behalf and how can you get involved yourself?
The VDT will focus on the "group privilege" when processing the consultations. In this context, the VDT is already in contact with the EACT and its affiliated national associations. A joint discussion with a representative of the EU Commission is in preparation.
We will endeavour to find a formulation proposal for you in a timely manner, which you can incorporate into your own response to the consultation if necessary.
As the consultations do not explicitly focus on group privilege, but go into more detail, we would like to offer you the opportunity to address other topics that are important to you in addition to group privilege. To this end, we would ask you to finalise and formulate the topics to be addressed, together with information on where these should be included in the consultations. Please note the respective due date. If you have any questions about your comments, please contact us. You are of course free to answer the consultations on your own behalf.
Deadlines
Please send us your submissions for the consultations with Due Date 05.07.2022 please until 24.06.2022 to.
If submitted for consultation with a deadline 02.08.2022 please until 11.07.2022.
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