PSD2 National implementation status table

The interactive table below shows the current status of work on
PSD2 implementation across a range of European jurisdictions.

Click any section to read more.

Jurisdiction
Implementing regulations
Regulatory guidance

France

There is a draft bill authorising the French government to implement PSD2 by means of Ordinance. Current status: Implementing regulations expected/in draft
The French regulator is not expected to issue formal guidance in relation to PSD2. Current status: Guidance not available

Implementing regulations: Implementing regulations expected/in draft

Overview

There is a draft bill (which has not yet been adopted) on transparency, fight against corruption and modernisation of the economy authorising the French government to implement PSD2 by means of Ordinance.

Once the draft bill has been adopted and published in the Official Journal, the Ordinance will have to be adopted within 18 months from the date of publication.

As PSD2 will be implemented through Ordinance, no consultation/general discussions will be held (i.e., the French government should publish a first and final version of the Ordinance of implementation of PSD2 which will be adopted without prior consultation/debate). As a result, there are no official draft documents/debates that may help to anticipate how PSD2 will be implemented in France. However, it is likely that PSD2, like PSD1, will be implemented without modification in France.

Contacts

Sebastien Gros

Partner

Paris
+33 1 53 67 16 23
sebastien.gros@hoganlovells.com

Franck Dupret

Associate

Paris
+33 1 53 67 18 13
franck.dupret@hoganlovells.com

Regulatory guidance: Guidance not available

Overview

The French regulator (Autorité de Contrôle Prudentiel et de Résolution – ACPR) did not issue any formal guidance for PSD1 and it is not expected that any formal guidance will be issued in relation to PSD2.

The French Banking Federation (Fédération Bancaire Française – FBF) has issued an opinion on PSD2 raising concerns about security issues in relation to AIS providers. The FBF requests that AIS providers are regulated as payment institutions. However, this opinion should not have any impact on the French implementation procedure because (i) opinions issued by the FBF – which is not a legislative body – are not binding and (ii) the French legislature would not be entitled to regulate AIS providers as payment institutions as they have a special status which is directly provided for under PSD2.

Contacts

Sebastien Gros

Partner

Paris
+33 1 53 67 16 23
sebastien.gros@hoganlovells.com

Franck Dupret

Associate

Paris
+33 1 53 67 18 13
franck.dupret@hoganlovells.com

Germany

Two draft implementing acts (one for regulatory, one for contract law aspects) have been published. Current status: Implementing regulations expected/in draft
No draft PSD2 guidance has been issued to date. Current status: Guidance not available

Implementing regulations: Implementing regulations expected/in draft

Overview

Two draft implementing acts (one for regulatory, one for contract law aspects of PSD2) were published during the week commencing 19 December 2016 and were sent to business and consumer associations for consultation.  The consultation period ended on 4 January 2017.  It is likely that the two draft acts will be combined into one PSD2 implementation act before it is submitted to the German Federal government (and then to the Federal Diet – Bundestag; and the Federal Council – Bundesrat).

Contacts

Richard Reimer

Partner

Frankfurt
+49 69 962 36 414
richard.reimer@hoganlovells.com

Verena Ritter-Döring

Senior Associate

Frankfurt
+49 69 96 23 6 232
verena.ritter-doering@hoganlovells.com

Regulatory guidance: Guidance not available

Overview

Contacts

Richard Reimer

Partner

Frankfurt
+49 69 962 36 414
richard.reimer@hoganlovells.com

Verena Ritter-Döring

Senior Associate

Frankfurt
+49 69 96 23 6 232
verena.ritter-doering@hoganlovells.com

Italy

A consultation paper on PSD2 is likely in early/mid 2017. Current status: Implementing regulations expected/in draft
The Bank of Italy is expected to amend the existing PSD Regulation to allow for implementation of PSD2. Current status: Guidance expected/in draft

Implementing regulations: Implementing regulations expected/in draft

Overview

Law No. 170 of 12 August 2016 (so-called annual European law) granted the power to the Italian Government to implement PSD2 in the domestic legal framework within 12 months from the entry into force of the Law (i.e. 16 September 2016). A consultation paper on PSD2 implementation is expected before the deadline and likely by the end of 2016/early 2017.

Contacts

Jeffrey Greenbaum

Partner

Rome
+39 06 6758231
jeffrey.greenbaum@hoganlovells.com

Elisabetta Zeppieri

Associate

Rome
+39 06 6758 23 1
elisabetta.zeppieri@hoganlovells.com

Regulatory guidance: Guidance expected/in draft

Overview

The Bank of Italy has not issued any draft guidance on PSD2 as yet.

The Bank of Italy did not issue formal or informal guidance for PSD1. However, after the implementation of PSD1 by primary legislation, the Bank issued a Regulation providing for the secondary implementing measures. This Regulation is quite detailed and comprehensive and provides some guidance mainly regarding the positive and negative scope of PSD1. It is expected that the Regulation will be amended for the implementation of PSD2.

Contacts

Jeffrey Greenbaum

Partner

Rome
+39 06 6758231
jeffrey.greenbaum@hoganlovells.com

Elisabetta Zeppieri

Associate

Rome
+39 06 6758 23 1
elisabetta.zeppieri@hoganlovells.com

Netherlands

Draft legislation is due before the Dutch parliament in early 2017, with the aim of enactment by January 2018. As at mid-January 2017, a public consultation on the draft legislation has closed. Current status: Implementing regulations expected/in draft
No draft PSD2 guidance has been issued to date. Current status: Guidance not available

Implementing regulations: Implementing regulations expected/in draft

Overview

A public consultation on draft implementing legislation has taken place and is now closed. The minister responsible has announced that he intends to send draft legislation to the Dutch parliament in the beginning of 2017, with the aim of enactment by January 2018.

Contacts

Victor De Vlaam

Partner

Amsterdam
+31 20 55 33 600
victor.devlaam@hoganlovells.com

Regulatory guidance: Guidance not available

Overview

Contacts

Victor De Vlaam

Partner

Amsterdam
+31 20 55 33 600
victor.devlaam@hoganlovells.com

Spain

No official documentation has been published to date. Current status: Implementing regulations not available
No draft PSD2 guidance has been issued to date. Current status: Guidance not available

Implementing regulations: Implementing regulations not available

Overview

No draft bill, guidance or official document establishing or explaining how PSD2 implementation will be executed has been published to date.

Contacts

Joaquin Ruiz Echauri

Partner

Madrid
+34 91 349 82 74
joaquin.ruiz-echauri@hoganlovells.com

Jaime Bofill

Counsel

Madrid
+34 91 349 81 90
jaime.bofill@hoganlovells.com

Regulatory guidance: Guidance not available

Overview

No draft PSD2 guidance has been published to date.

For PSD1, the regulator published a Guide in 2007, before transposition (only available in Spanish). However, the document only summarises PSD1.

Contacts

Joaquin Ruiz Echauri

Partner

Madrid
+34 91 349 82 74
joaquin.ruiz-echauri@hoganlovells.com

Jaime Bofill

Counsel

Madrid
+34 91 349 81 90
jaime.bofill@hoganlovells.com

Poland

No official documentation has been published to date. Current status: Implementing regulations expected/in draft
No draft PSD2 guidance has been published to date. Current status: Guidance not available.

Implementing regulations: Implementing regulations expected/in draft

Overview

According to the Polish government website, a draft act (No. UC81) has been discussed and the planned date of acceptance by the Council of Ministers is Q2 2017. However, nothing has been officially published. The draft act could be published soon because the legislative process usually involves public consultations before a draft act is submitted to Parliament.

Contacts

Beata Balas-Noszczyk

Partner

Warsaw
+48 22 529 29 24
beata.balasnoszczyk@hoganlovells.com

Bartosz Romanowski

Senior Associate

Warsaw
+48 22 529 86 08
bartosz.romanowski@hoganlovells.com

Regulatory guidance: Guidance not available.

Overview

No draft PSD2 guidance has been published to date.

Contacts

Beata Balas-Noszczyk

Partner

Warsaw
+48 22 529 29 24
beata.balasnoszczyk@hoganlovells.com

Bartosz Romanowski

Senior Associate

Warsaw
+48 22 529 86 08
bartosz.romanowski@hoganlovells.com

United Kingdom

The Treasury consultation on draft Payment Services Regulations 2017 was launched on 2 February 2017. It closes on 16 March 2017. Current status: Implementing regulations expected/in draft
The FCA is due to publish a consultation on revised guidance for PSD2 in early Q2 2017. Current status: Guidance expected/in draft

Implementing regulations: Implementing regulations expected/in draft

Overview

A 6-week Government (HM Treasury) consultation on draft implementing regulations, the Payment Services Regulations 2017, was launched on 2 February 2017. It will close on 16 March 2017. The Government aims to lay the final form Regulations before Parliament in early 2017.

The FCA Payment Services Stakeholder Liaison Group was re-established in July 2016 to 'ensure productive liaison between the FCA…and the payment services sector in order to support the successful implementation' of PSD2. The Group normally meets every 6 weeks. Agenda and minutes are available from the FCA payments and e-money stakeholder liaison groups webpage.

PSD1 was implemented via the Payment Services Regulations 2009 (SI 2009/209).

Contacts

Emily Reid

Partner

London
+44 20 7296 5362
emily.reid@hoganlovells.com

Roger Tym

Partner

London
+44 20 7296 2470
roger.tym@hoganlovells.com

Jonathan Chertkow

Partner

London
+44 20 7296 2191
jonathan.chertkow@hoganlovells.com

Julie Patient

Counsel

London
+44 20 7296 5790
julie.patient@hoganlovells.com

James Black

Senior Associate

London
+44 20 7296 5898
james.black@hoganlovells.com

Regulatory guidance: Guidance expected/in draft

Overview

The UK regulator, the Financial Conduct Authority (FCA) is due to publish a consultation on revised guidance for PSD2 in early Q2 2017.

The main sources of guidance on PSD1 are the FCA Approach Document to the Payment Services Regulations 2009 and the Guidance on the Scope of the Payment Services Regulations 2009 (PERG 15) in the FCA's Perimeter Guidance Manual.

Contacts

Emily Reid

Partner

London
+44 20 7296 5362
emily.reid@hoganlovells.com

Roger Tym

Partner

London
+44 20 7296 2470
roger.tym@hoganlovells.com

Jonathan Chertkow

Partner

London
+44 20 7296 2191
jonathan.chertkow@hoganlovells.com

Julie Patient

Counsel

London
+44 20 7296 5790
julie.patient@hoganlovells.com

James Black

Senior Associate

London
+44 20 7296 5898
james.black@hoganlovells.com