Regulatory Alerts2018-11-24
Royal Decree-Law 19/2018 of 23 November on Payment Services and Other Urgent Financial Measures
The Spanish State issued Royal Decree-Law 19/2018 to urgently transpose EU Directive 2015/2366 into national law, thereby regulating new payment services such as payment initiation and account information while transferring authorization competencies to the Bank of Spain. The decree extends consumer protection to micro-enterprises, mandates notification for excluded payment activities to ensure uniform interpretation, and updates the sanctioning regime for credit institutions and investment firms to align with EU standards. These measures address overdue transposition deadlines, mitigate regulatory uncertainty for financial entities, and strengthen the legal framework for payment services and market supervision.
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