The payment services directive and other community regulations On 28 October the Council of Ministers approved the draft legislative decree transposing the PSD into Italian law. The text is now before Parliament. Within 45 days the competent committees will issue their non-binding opinions, before definitive approval by the Council of Ministers and publication in the Gazzetta Ufficiale.
The first set of rules laid down in the Directive concerns the rights and obligations of the parties to payment transactions (Title II). By harmonizing the rules, these provisions remove the obstacles to uniform use of SEPA schemes everywhere in the European Union.