PSD2 Fintech Puzzle – To Screen Scrape or Not to Screen Scrape?


The Polish Financial Supervision Authority (KNF) recently published (on 12 January 2018) a long-awaited statement relating to the “selected regulator’s expectations” as regards the interim period(s) relating to the implementation of the Payment Services Directive 2 (PSD2) in Poland.

The statement is key for banks and FinTech companies (TPPs) to understand how to operate until the full implementation of PSD2 in Poland. It also addresses the European Banking Authority’s (EBA) opinion of 19 December 2017 on the various issues resulting from the implementation of PSD2, in particular on the possibility of a “screen scraping”.

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The Electronic Communication Platform for Business Entities is Now Operational

Electronic CommunicationAs of 1 January 2018, Hungary’s new communication platform is now in use. It is a concept similar to the electronic communication platform that has been widely available to private individuals for some time. The purpose of both platforms is to enable users to communicate efficiently with the central and local governments online. While private individuals are free to choose whether to use the electronic communication, businesses must act via the new platform. As of the beginning of the year, the electronic communication platform is the only route to reach out to authorities and government agencies and vice versa; the government will communicate with the business entities exclusively through this electronic platform. Each business entity must specify an email address in its corporate data.

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Poland’s Parliament Enacts Far-reaching Changes Regarding the Supreme Court

Row of ColumnsSignificant changes will affect Poland’s highest court when President Andrzej Duda, as expected, signs new legislation just passed by Parliament.

The changes are far-reaching, but among the major changes are:

Creation of a division of extraordinary control with new jurisdiction – A new chamber of the Supreme Court called the “Chamber for Extraordinary Control and Public Matters” (Izba Kontroli Nadzwyczajnej i Spraw Publicznych) will be created. Initially, the new Chamber will have the authority to re-adjudicate any judgment issued by any court that became final and binding after 17 October 1997, if necessary to ensure the rule of law and social justice where:

  • The decision violates the principles or freedoms and human and civil rights specified
  • in the Constitution
  • The decision grossly violated the law by erroneous interpretation or misapplication thereof
  • There is an obvious contradiction between important findings of the court and the collected evidence
  • Such decision cannot be revoked or changed utilizing other remedies

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Poland Adopts Ambitious Plan for Its National Transportation Hub

Airport Waiting LoungePlans for Poland’s Central Communication Port – the largest infrastructure project contemplated for Central and Eastern Europe – continue to progress. The Council of Ministers recently approved an ambitious plan that contemplates implementation of the main investments over the next 10 years to the year 2027.

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Material New Developments in the Reprivatization of Property in Warsaw

Old tenement buildingThis post follows up on previous articles on the reprivatization of property in Warsaw and the governmental commission reviewing the legality of the process (see here and here).

At a press conference on October 11, First Deputy Minister of Justice Patryk Jaki outlined the law that is to regulate property reprivatization in Poland. It is a rather revolutionary concept.

The need to regulate the various claims concerning assets lost, nationalized, destroyed or seized either during WWII or after the war has been raised many times since 1989. To this day, it is still a matter that has never been satisfactorily solved – previously, only former owners of property located behind the new eastern border had legal claims, while other former owners, their heirs and successors were left to seek the justice individually.

Why has Poland not dealt with this matter for so long? There have previously been many arguments raised, the main one being that the state cannot afford to pay 100% of the value of the property to all former owners. That argument is, however, offset by the fear that if the state offers less than full compensation it may be sued in courts and arbitration tribunals, in Poland and elsewhere, for expropriation. Thus, the problem remained unresolved, giving rise to the “reprivatization business” previously discussed in earlier posts.

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Recent Supreme Court Decision Threatens Effective Enforcement of Foreign Arbitral Awards

The Czech Supreme Court held that foreign arbitral awards falling within the scope of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards can only be enforced by Czech courts (through procedures available under the Czech Civil Procedure Code) rather than by private bailiffs under the Czech Enforcement Code. The decision, available here, represents a major drawback to the enforcement of foreign arbitral awards in the Czech Republic because the enforcement under the Enforcement Code is being widely considered as substantially more efficient than enforcement under the Civil Procedure Code.

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The Polish Draft of the New Personal Data Protection Act – Announced!

ONew Rulesn 14 September 2017, a draft of the new Personal Data Protection Act “implementing” EU General Data Protection Regulation (the “PDPA Draft”) was published as well as a draft amending numerous sectoral laws (“Amending Act Draft”). As announced by the Minister for Digitization, the drafts are to be subject to extensive public consultation.

Here are the key issues covered by the announced drafts.

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Criminal Record Check for Persons Applying for Employment in the Entities of the Financial Sector – the Draft Legislation (Poland)

Criminal Background CheckAt the end of August 2017, legislative work has started to set out principles of checking clean criminal records of applicants for employment in the entities of the financial sector.

A list of entities that will benefit from the law covers, inter alia, banks, international financial institutions, insurers, the Polish Export Credit Agency (KUKE), insurance agents and brokers, loan institutions, electronic money institutions, payment institutions and organizations, investment fund management companies and brokerage houses, as well as entities providing services to banks or insurers under so-called outsourcing.

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