Regulatory Alerts2019-12-30
Order ECE/1263/2019 on Transparency of Conditions and Information Requirements for Payment Services
The Spanish Ministry of Economy and Enterprise issued Order ECE/1263/2019 to establish detailed transparency and information requirements for payment services, fully transposing Directive (EU) 2015/2366. The regulation mandates specific pre-contractual and post-execution disclosures for both singular payment operations and framework contracts, extending protections to consumers and micro-enterprises. It also modifies previous banking transparency orders to align with European standards and updates accounting and audit rules for payment and electronic money entities.
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