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New AML rules

New AML rules for crypto-asset service providers

23/01/2024
Banking & fintech

The EU has provisionally agreed on the new AML package, moving core rules to regulation to harmonize AML regulations across Member States; notable changes involve including all crypto-asset service providers (CASPs) under EU AML law, guided by MiCAR rules, and the European Banking Authority extending its 2021 Guidelines to cover CASPs, addressing sector-specific risks and AML risk factors in the crypto industry.

Faillissement van SaaS aanbieders

Cloud computing and the risk of bankruptcy

16/01/2024
Contracts

The various forms of cloud computing, and SaaS in particular, have broken through in the past decade as reliable services for delivering mission-critical software. But what happens when a provider goes out of business?

AI liability

AI liability in the EU

16/01/2024
Artificial Intelligence (AI)

The blog discusses the implications of the European Union's new Product Liability Directive, which broadens the scope of liability to include all AI systems and introduces changes to accommodate the evolving nature of AI, such as continuous learning capabilities. It highlights the shift in the burden of proof to AI operators and connects the Product Liability Directive with the previously proposed AI Liability Directive and the upcoming AI Act, emphasizing the comprehensive regulatory framework for AI in the EU.

Pieter Gryffroy promoted to Partner

Timelex promotes Pieter Gryffroy to Partner

03/10/2023
News & announcements

It is with great pleasure that Timelex would like to announce that, with effect from 1 October 2023, Pieter Gryffroy has been promoted to Partner. 

New Belgian law of contracts

New Belgian law of contracts: impact on IT contracts

24/11/2022
Contracts

The new Belgian contract law will apply from 1 January 2023. Curious about the impact of these (new) rules on IT contracts concluded from then on? We will explain the 7 important changes to IT contracts.

FIDA

New regulatory package on payment services – FIDA

13/07/2023
Banking & fintech

The European Commission has shared its evaluation findings on PSD2, suggesting an imminent revision. On June 28, 2023, formal proposals were made, including a new Directive called PSD3 and a Payment Services Regulation (PSR) that tackles financial data access, transaction authorization, and customer authentication. This blogpost offers an initial overview of the upcoming Financial Data Access Regulation.

PSR

New regulatory package on payment services – PSR

13/07/2023
Banking & fintech

The European Commission has released findings on the evaluation of PSD2, indicating an upcoming revision. On June 28, 2023, formal proposals for the revisions were presented, including a new Directive called PSD3 and a Payment Services Regulation (PSR). The PSR focuses on Open Banking, transaction authorization, customer authentication, and addresses financial data access. This blogpost offers an initial overview of the PSR changes.

PSD3

New regulatory package on payment services – PSD3

13/07/2023
Banking & fintech

The European Commission has revealed its findings on PSD2 evaluation, signaling an upcoming revision of the framework. On June 28, 2023, formal proposals for the revisions were presented, including a new Directive called PSD3, a Payment Services Regulation (PSR), and a Regulation on financial data access (FIDA). This blogpost offers an initial overview of the anticipated changes in PSD3, with subsequent posts focusing on the Payment Services Regulation and the Financial Data Access Regulation.

Cybersecurity framework for EU institutions

Cybersecurity framework for EU institutions moving along

26/06/2023
Cybersecurity

We have previously discussed the NIS2 Directive, the new cybersecurity framework for certain private and public sector entities. A new proposal that aims to impose a similar framework to the EU is moving through the interinstitutional dialogue now and will likely be adopted later this year. In this article we explain more about it.

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