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Each month, we leverage data from our Horizon Scanning Regulatory Deadlines Calendar to bring you a glimpse of the key response deadlines and legislation effective dates coming up, so you can plan and take action around some of the most important regulatory developments unfolding right now.

In February, there are 41 regulatory deadlines on the horizon — with 29 consultation periods coming to an end and requiring a response, and 12 to be aware of coming into effect.

What are the regulatory deadlines to watch in February?

Brazil

The new rules, procedures and schedule for implementing changes to the Open Finance security profile issued by the Central Bank of Brazil come into effect on February 1, 2024. These rules create new requirements for participants including the obligation to carry out dynamic client management and engage in bilateral communication with one another.

Taiwan

Taiwan’s Financial Supervisory Commission has published new rules that provide for the obligation to submit a compliance statement by enterprises handling virtual currency platforms and transactions. The rules also require the submission of such statements before carrying out any transactions. The rules come into force on February 1, 2024.

Australia

The consultation on a licensing framework for payment service providers from the Australian Government will come to an end on February 2, 2024. Among other things, the consultation brings proposals such as regulatory requirements to ensure access to payment systems and an industry standard-setting framework. 

UK‍

Several consultations will come to an end in the UK, such as the consultation on the proposed expansion of variable recurring payments to additional low-risk use cases by the Payments System Regulator (PSR) on February 2, 2024, and the consultation on the regulation of crypto-assets by the Financial Conduct Authority with a focus on stablecoins on February 6, 2024.

Chile

‍The new regulations for financial service providers under the Chilean Fintech Law will come into effect on February 3, 2024. These new regulations touch on points such as authorisation and registration requirements, minimum capital requirements, cybersecurity requirements and transparency and information requirements. A key point is that entities already providing services under the scope of the law must register and apply for authorisation by February 3, 2025. 

US

The final rule for access to beneficial ownership information by authorised recipients issued by the Financial Crimes Enforcement Network (FinCEN) will come into effect on February 20, 2024. This new rule establishes circumstances where the recipient will have access to beneficial ownership information. 

EU

Several consultations will come to an end in the EU in February, such as the consultation on the EU-wide application of the EU GDPR, and the EBA’s consultation on draft regulatory technical standards on liquidity requirements under MiCA both on February 8, 2024. Additionally, an EBA consultation on new travel rule guidelines concerning the release of new guidelines on preventing the abuse of funds and certain crypto-assets transfers for anti-money laundering/counter-terrorism financing purposes, will conclude on February 26, 2024. 

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The ������ϲʿ�����¼ PaymentsCompliance Horizon Scanning tool shows you real-time updates on regulatory deadlines and trends across 140+ global jurisdictions, including all US states, at the click of a button. Its Regulatory Deadlines Calendar feature sets out effective dates for published legislation, closing dates for consultation periods on proposed regulatory developments, and deadlines for specific requests for information by regulatory authorities.

We've only shown you a snapshot of February’s deadlines. Want to see them all?

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