Quick Look Brexit Financial Services Legislation Status Guide—payments services and systems [Archived]
Published by a LexisNexis Financial Services expert
Practice notesQuick Look Brexit Financial Services Legislation Status Guide—payments services and systems [Archived]
Published by a LexisNexis Financial Services expert
Practice notes
This Brexit Financial Services Legislation Status Guide provides high-level information on the status of EU legislation that regulates the payments sector, namely:
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the second Electronic Money Directive (Directive 2009/110/EC) (2EMD)
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the Cross Border Payments Regulation (Regulation (EC) 924/2009) (CBPR) as amended by Regulation (EU) 2019/518 (CBPR2)
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the Regulation establishing technical and business requirements for credit transfers and direct debits in euro and amending the CBPR (Regulation (EU) 260/2012 (SEPA Regulation))
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the Payment Accounts Directive (Directive 2014/92/EU) (PAD)
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the recast Payment Services Directive (Directive (EU) 2015/2366) (PSD2), and
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the Interchange Fee Regulation (Regulation EU) 2015/751) (IFR)
This Practice Note should be read in conjunction with Practice Notes:
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Impact of Brexit: Payment services and electronic money directives—quick guide [Archived]
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Impact of Brexit: SEPA Regulation—quick guide [Archived]
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Impact of Brexit: Payment accounts—quick guide [Archived]
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Impact of Brexit: Interchange Fee Regulation—quick guide [Archived]
During the implementation period beginning on 1 January 2020 and ending on 31 December 2020 (IP
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Brexit definition
What does Brexit mean?
means: (a) the United Kingdom (UK) ceasing to be a member state of the European Union (EU) and/or the European Economic Area (EEA) on exit day; and/or (b) the commencement, end of[ or variation in] any transitional, trading or other arrangements from time to time between: (i) the UK and the EU and/or EEA (including during any implementation period and IP Completion Day); and/or (ii) the UK and any other country, group of countries, international organisation, bloc or body (including the World Trade Organization) in contemplation of or (directly or indirectly) in connection with the UK’s said cessation of membership;
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