EPIF is delighted to share with you its position on the Settlement Finality Directive. Adopted in 1998, the SFD guarantees that transfer orders within the European Union which enter the intra-bank payment system of central banks or are used for clearing and settlement of securities are legally settled. Under the current settlement arrangements for SCT [...]
EPIF has co-signed a Joint Statement to keep the option for anonymous low risk, low value e-money products in the EU anti-money laundering Rulebook. The retention of such exemption can be incorporated in EU Regulation in a compliant way and following a risk-based approach, without being in conflict with EU legislation and the FATF requirements. [...]
EPIF welcomes the proposal by the European Commission on instant credit transfers in euros. This proposal is an essential element of the EU’s Retail Payments Strategy and EPIF members have always supported the efforts by the European Commission to foster pan-European initiatives. As a member of the European Payments Council (EPC), EPIF has actively participated [...]
On 8 December 2022, the European Commission adopted its proposal amending the EU Directive on administrative cooperation in the field of taxation, also known as DAC8. This proposal has been highly expected by the industry and is a positive step forward to improve tax transparency and minimize the risks of under-reporting of taxable income. DAC8 [...]
EPIF fully supports the European Commission’s efforts to remove tax obstacles and reduce administrative burdens for European businesses with a view of creating a more business-friendly environment in the EU. We however maintain that the continued pursuit of a multitude of unilateral corporate tax initiatives will lead to a high degree of unnecessary complexity, uncertainty [...]
EPIF is delighted to share with you its joint paper with AFME, ISDA and FIA on the Corporate Sustainability Due Diligence. The paper highlights the serious challenges faced by financial institutions if the obligations are applied beyond their upstream supply chain to their relationships with corporate clients or trading counterparties in their downstream value chain. [...]
EPIF is delighted to share with you the joint statement on the due diligence proposal (CS3D). The European Commission's efforts on an EU due diligence framework are very much supported but need a sense of realism, proportionality and workability. This joint statement brings together a number of recommendations and concerns shared by the business community [...]
EPIF welcomes the proposal by the European Commission on instant credit transfers in euros. This proposal is an essential element of the EU’s Retail Payments Strategy and EPIF members have always supported the efforts by the European Commission to foster pan-European initiatives. New initiatives based on instant payments will increase competition in the Single Market [...]
EPIF is delighted to share its response to the European Commission targeted consultation on a open finance framework and data sharing in the financial sector. EPIF considers that primarily Open Finance has brought more payment solutions and more options available. Notwithstanding, often provisions are not phrased in a technology-agnostic manner and can be overly prescriptive, [...]
EPIF is delighted to share its response to the European Commission's targeted consultation on the review of the revised Payment Service Directive (PSD2). The payments landscape has changed in the last years, with the entry into force of the PSD2 and developments in technology and FinTech introducing many new players and new payment solutions into [...]