New UK Requirements on Cross-Border Payments – "Onshoring" and Practical Issues
By EsqSocial Corporation 20/01/21
The Cross-Border Payments Regulation (EC) No 924/2009 (CBPR) is the EU legislation that sets out the principle of equality of charges for intra-EU cross-border euro payments and corresponding national payments within an EU member state. CBPR has been amended by Regulation (EU) 2019/518 (Amending Regulation), which extends the equality of charges principle to any non-euro currency of an EU member state and inserts new transparency requirements on currency conversion charges. CBPR applied directly...
By: K&L Gates LLP