The proposed Regulatory Technical Standards on strong customer authentication and secure communication are key to achieving the objective of the PSD2 of enhancing consumer protection, promoting innovation and improving the security of payment services across the European Union.Documents For other uses, see, Learn how and when to remove this template message, "Operational Limits and Conditions and Operating Procedures for Nuclear Power Plants Safety Guide", https://en.wikipedia.org/w/index.php?title=Technical_standard&oldid=988873453, Articles needing additional references from February 2014, All articles needing additional references, Creative Commons Attribution-ShareAlike License, Published documents available for purchase, Private documents owned by an organization or corporation, used and circulated as the owner determines necessary or useful, Closed or controlled documents that contain, This page was last edited on 15 November 2020, at 19:38. Such a provision for differential treatment ensures the optimum balance between security and speed. A technical standard is an established norm or requirement for a repeatable technical task. Additionally, the level of performance and availability of this interface must match what the financial institutions provides to their users directly. The standardization process may be by edict or may involve the formal consensus of technical experts. On 4 October 2016, the European Commission has endorsed the Commission Delegated Regulation (CDR) with regards to the Regulatory Technical Standards 1025, 2020, Annex 4, WHO Technical Report Series 929, 2005, Annex 5, WHO Technical Report Series 929, 2005, Annex 9, WHO Technical Report Series 902, 2002, Annex 11, WHO Technical Report Series 1010, 2018, Annex 6, WHO Technical Report Series 1019, 2019, Coronavirus disease outbreak (COVID-2019), Coronavirus disease outbreak (COVID-19) », Guidance on good data and record management practices, Stability Testing of Pharmaceutical Products in a Global Environment, Stability testing of active pharmaceutical ingredients and finished pharmaceutical products, WHO guidelines on Multisource (generic) pharmaceutical products: guidelines on registration requirements to establish interchangeability (revision), WHO âBiowaiver Listâ: proposal to waive in vivo bioequivalence requirements for WHO Model List of Essential Medicines immediate-release, solid oral dosage forms, Protocol to conduct equilibrium solubility experiments for the purpose of Biopharmaceutics Classification System-based classification of active pharmaceutical ingredients for biowaiver, Guidance for organizations performing in vivo bioequivalence studies (revision), General background notes and list of international comparator pharmaceutical products, Guidance on the selection of comparator pharmaceutical products for equivalence assessment of interchangeable multisource (generic) products, List of International Comparator products (September 2016), Procedure for prequalification of pharmaceutical products, Guidelines on submission of documentation for prequalification of finished pharmaceutical products approved by stringent regulatory authorities, WHO guidelines on variations to a prequalified product, Collaborative procedure between the World Health Organization (WHO) prequalification team and national medicines regulatory authorities in the assessment and accelerated national registration of WHO-prequalified pharmaceutical products and vaccines (revision), Guidelines on submission of documentation for a multisource (generic) finished pharmaceutical product for the WHO Prequalification of Medicines Programme: quality part, Guidelines on submission of documentation for prequalification of innovator finished pharmaceutical products approved by stringent regulatory authorities, Prequalification of quality control laboratories. Technical barriers arise when different groups come together, each with a large user base, doing some well established thing that between them is mutually incompatible. Regulatory News Alert. A technical standard may be developed privately or unilaterally, for example by a corporation, regulatory body, military, etc. It is critical that the most current version of a published standard be used or referenced. Think of them as a formula that describes the best way of doing something. Find out more about how to protect your organisation from fraud and improper payments. Certificates for website authentication play a very important role in ensuring the security and integrity of online transactions. Regulatory Technical Standards (RTS) SCA Shifting Fraud Attempts To New Areas, Report Finds. The technical standards mandate the existence of at least one interface that financial institutions must provide to securely send and receive information from PISPs/ AISPs. The European Commission has set out the legislative framework for the new directive and has tasked the European Banking Authority (EBA) to define the standards for the implementation of PSD2. it emerges from situations in which all parties realize mutual gains, but only by making mutually consistent decisions. This discussion of the Regulatory Technical Standards (RTS) is the third post in a series explaining the Revised Payment Service Directive (PSD2) and how it will affect banks. It’s worth highlighting the latest practical exemptions for applying SCA: Under PSD2, third party providers (TPPs) will be granted consented access to customer information through the banks’ infrastructure to deliver new value-added services. The standards make reference to the PSD2 directive as well as other mechanisms for ensuring transactional security like eIDAS and trust services. For background, read my two previous posts, PSD2: Understanding the new payments regulation in Europe and PSD2: How new European payment regulations could elevate fraud risk. Standards organizations often have more diverse input and usually develop voluntary standards: these might become mandatory if adopted by a government (i.e., through legislation), business contract, etc.