This article provides an analysis of the set of guidelines recently issued by the European Banking Authority (EBA), pursuant to Art. 16 of Regulation (EU) No 1093/2010, to call for an enhanced convergence on the application of the so called “limited network exclusion” (LNE) established by art. 3 of the PSD2 (as already by the PSD1) in case of services based on “specific payment instruments” that can be used only in a “limited way”, this because the implementation and application of the requirements for the proper application of the LNE still diverge excessively across the Member States. As a result, with such guidelines the EBA seeks to clarify and further harmonize a number of specific aspects of the application of the LNE under the PSD2, including the criteria and indicators for assessing if a “network” of service providers or a “range of goods and services” actually and legally qualify as “limited”, and the relating notification requirements to national Competent Authorities (CAs) pursuant to art. 37(2) of the PSD2. The national CAs must to report to EBA whether they intend to comply with the Guidelines or otherwise the reasons for non-compliance. The Guidelines on the LNE apply from the 1st of June 2022 (however for certain issuers transitional arrangements apply until 1 September 2022). Even if the EBA effort to enhance the regulatory and supervisory convergence in the area of retail payment services and application of the LNE should certainly be appreciated, it seems however that a certain fragmentation would remain in this area of the internal market regulation also after the application of these guidelines. Indeed, the guidelines still leave in any case a high degree of discretion in the actual assessment of the requisites for the application of the LNE, also due to the fact that, as indicated in the same guidelines, such assessment is to be conducted on case-by-case basis and, also with regard to certain key aspects, it should also take into account the specificities of the national markets, which at times have different structures and sizes. As for the legal nature of the guidelines, it should be noted also that the EBA, while providing “technical advice” to the European Commission regarding the announced review of the PSD2, has lately suggested to include, in whole or in part, the content of the guidelines within the PSD2 and/or to mandate the EBA to develop specific Regulatory Technical Standards on the application of the LNE. That said, to further strengthen the sought-after greater convergence of supervisory practices on the application of the LNE, it is suggested here the idea of evaluating also, for example, the option of establishing an ad-hoc coordination group pursuant to art. 45-ter of Regulation (EU) no. 1093/2010 also on the matter of the LNE.

Il presente articolo reca un’analisi delle linee guida da ultimo emanate dall’Autorità bancaria europea (EBA), ai sensi dell’art. 16 del Regolamento (UE) n. 1093/2010, per sollecitare una maggiore convergenza nell’applicazione della c.d. “limited network exclusion” (LNE) prevista dall’art. 3 della PSD2 (come già nella PSD1) in caso di servizi basati su “specifici strumenti di pagamento” utilizzabili solo in “modo limitato”, ciò in quanto l’attuazione e l’applicazione dei requisiti per la corretta applicazione della LNE continuano tutt’ora a divergere eccessivamente tra gli Stati Membri. Di conseguenza, con tali linee guida l’EBA ha inteso chiarire e armonizzare ulteriormente una serie di aspetti specifici dell’applicazione della LNE ai sensi della PSD2, inclusi i criteri e gli indicatori per valutare se una “rete” di fornitori di servizi o un “gamma di beni e servizi” si qualificano effettivamente e giuridicamente come “limitati”, nonché l’adempimento dei relativi obblighi di notifica alle Autorità nazionali competenti ai sensi dell’art. 37, co. 2, della PSD2. Le Autorità nazionali competenti devono riferire all'EBA se intendono conformarsi alle linee guida o i motivi per i quali non intendono conformarvisi. Le linee guida sulla LNE si applicano a partire dal 1° giugno 2022 (tuttavia per alcuni operatori è previsto un periodo transitorio fino al 1° settembre 2022). Anche se lo sforzo dell'EBA per rafforzare la convergenza normativa e di vigilanza nell'area dei servizi di pagamento al dettaglio e nell'applicazione della LNE è certamente da apprezzare, sembra tuttavia che anche dopo l’applicazione delle linee guida in esame potrà permanere ancora una certa frammentazione in questo settore della regolamentazione del mercato interno. Risulta infatti che le linee guida lascino comunque un elevato grado di discrezionalità nella valutazione dei requisiti per l'applicazione della LNE, anche per il fatto che, come indicato dalle stesse, tale valutazione deve essere condotta caso per caso e, anche per quanto riguarda alcuni aspetti chiave, deve anche tenere conto delle specificità dei mercati nazionali che a volte hanno strutture e dimensioni diverse. Quanto poi alla stessa natura giuridica delle linee guida, si ha presente anche che l’EBA, nel fornire “consulenza tecnica” alla Commissione Europea in merito all’annunciata revisione della PSD2, ha suggerito da ultimo sussumere, in tutto o in parte, nella PSD2 il contenuto delle linee guida in esame e/o di conferire mandato all’EBA stessa di elaborare appositi Regulatory Technical Standards sull’applicazione della LNE. Ciò posto, per contribuire a rafforzare ulteriormente la ricercata maggiore convergenza delle prassi di vigilanza nell’applicazione della LNE, è qui suggerita l’idea di valutare altresì, ad esempio, l’opzione di costituire un gruppo di coordinamento ad-hoc ex art. 45-ter del Regolamento (UE) n. 1093/2010 anche in materia di LNE.

La maggiore convergenza nel negative scope della PSD2: i nuovi criteri applicativi della "limited network exclusion".

Simone Mezzacapo
Writing – Original Draft Preparation
;
Vincenzo Troiano
Writing – Original Draft Preparation
2022

Abstract

This article provides an analysis of the set of guidelines recently issued by the European Banking Authority (EBA), pursuant to Art. 16 of Regulation (EU) No 1093/2010, to call for an enhanced convergence on the application of the so called “limited network exclusion” (LNE) established by art. 3 of the PSD2 (as already by the PSD1) in case of services based on “specific payment instruments” that can be used only in a “limited way”, this because the implementation and application of the requirements for the proper application of the LNE still diverge excessively across the Member States. As a result, with such guidelines the EBA seeks to clarify and further harmonize a number of specific aspects of the application of the LNE under the PSD2, including the criteria and indicators for assessing if a “network” of service providers or a “range of goods and services” actually and legally qualify as “limited”, and the relating notification requirements to national Competent Authorities (CAs) pursuant to art. 37(2) of the PSD2. The national CAs must to report to EBA whether they intend to comply with the Guidelines or otherwise the reasons for non-compliance. The Guidelines on the LNE apply from the 1st of June 2022 (however for certain issuers transitional arrangements apply until 1 September 2022). Even if the EBA effort to enhance the regulatory and supervisory convergence in the area of retail payment services and application of the LNE should certainly be appreciated, it seems however that a certain fragmentation would remain in this area of the internal market regulation also after the application of these guidelines. Indeed, the guidelines still leave in any case a high degree of discretion in the actual assessment of the requisites for the application of the LNE, also due to the fact that, as indicated in the same guidelines, such assessment is to be conducted on case-by-case basis and, also with regard to certain key aspects, it should also take into account the specificities of the national markets, which at times have different structures and sizes. As for the legal nature of the guidelines, it should be noted also that the EBA, while providing “technical advice” to the European Commission regarding the announced review of the PSD2, has lately suggested to include, in whole or in part, the content of the guidelines within the PSD2 and/or to mandate the EBA to develop specific Regulatory Technical Standards on the application of the LNE. That said, to further strengthen the sought-after greater convergence of supervisory practices on the application of the LNE, it is suggested here the idea of evaluating also, for example, the option of establishing an ad-hoc coordination group pursuant to art. 45-ter of Regulation (EU) no. 1093/2010 also on the matter of the LNE.
2022
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11391/1530299
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