PwC TLS and Fast together for advice and assistance to companies for invoice discount, direct use of credit and/or assignment of credit.

Financial services concluded at a distance: the new Directive

The European Union has adopted new rules in order to update the regulation of financial services concluded at a distance in the light of the digital transformation that has been underway for several years now and which has increased the use of digital tools by consumers, also with regard to the conclusion of financial services.

New reporting obligations for payment service providers with reference to cross-border payment (“CESOP”)

On 3 November 2023, Legislative Decree no. 153 of 18 October 2023 (hereinafter, “Implementing Decree”) was published in the Italian Official Gazette. The Implementing Decree has implemented in Italy the Council Directive (EU) 2020/284 of 18 February 2020 (hereinafter, “CESOP Directive”) amending Council Directive 2006/112/EC with regards to the introduction starting from 1 January 2024 of certain obligations for Payment Service Providers (hereinafter, “PSPs”) with reference to “cross-border” payments. The Implementation Decree entered into force on 18 November 2023 and will apply to cross-border payments made from 1 January 2024.

MiCA Regulation: draft technical standards and EBA Guidelines (third set)

On 8 November 2023, the European Banking Authority (EBA) put out for consultation additional technical standards and Guidelines pursuant to the so-called Market in Crypto-Assets Regulation (MICA), i.e. Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets.