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Graham Bishop is renowned for his vision and the courage to propose radical ideas, yet ground them in a mastery of the technical details of the financial system. He has been referred to as a one-man think tank.
European Commission: His influence at the meeting point of politics, economics and finance has been recognised on many occasions - most recently when the European Commission asked him to study the attitudes of investors toward the euro area sovereign bond markets. In particular, he explored attitudes towards the potential for a “common euro area safe asset”: what characteristics should it possess and whether it would ameliorate any of the concerns expressed about the features of existing bond markets.
Graham's many pro bono activities illuminate and reinforce his Consultancy Services. His deep knowledge of Europe’s financial system is integrated with his understanding of EU economic and budgetary policy-making – whilst set within the necessary framework of democratic accountability.
He was a member of the Commission's Consultative Group on the Impact of the Euro on Capital Markets; of the Commission's Strategy Group on Financial Services; and of the Committee of Independent Experts on the preparation of the changeover to the single currency (1994/5).
This Website, as well as Graham's Consultancy Service, is designed to bring clients the direct insights that flow from Graham’s position as a leading technical analyst of economic and structural developments in the financial markets of Europe.
"Institutional investors and major financial firms now face a huge commercial challenge in Europe. The vision of political integration has entered a critical phase: ...."
"..analysis of obscure bureaucratic manoeuvrings towards fiscal union, labour mobility and tax co-ordination etc. is quite outside the comfort zone of many..."
"It is now entirely foreseeable that governments may make potentially far-reaching changes that would impact the valuation of European financial assets, as well as reforming the nature of the regulations governing key parts of the financial sector’s business".
"..So the consequences of this crisis will be historic – and will reverberate around global financial markets. The stakes for participants in European financial markets could not be higher.."
Consultancy services can take many forms: face-to-face meetings, telephone discussions, written comments, speeches, special articles, customised research projects, etc.
The revised directive adapts the rules to cater for emerging and innovative payment services, including internet and mobile payments. It sets out to ensure a more secure environment for payments, in particular for those using remote channels.
Changes in e-commerce
Since adoption of the original payment services directive in 2007, methods for the initiation of payments in the field of e-commerce have evolved. They usually form a software "bridge" between the website of the merchant and the online banking platform of the payer's bank in order to initiate internet payments on the basis of a credit transfer. These services are now covered by the directive. They enable the payment initiation service provider (who never holds the user's funds) to give an assurance to the payee that the funds necessary for a specific payment transaction are available on the customer's account and that the payment has been initiated.
A regulatory regime to cover the activities of account information services is also established. These services provide the payment service user, for example, with aggregated online information on payment accounts held with other payment service providers. This enables the payment service user to have an overview of his/her financial situation at any given moment, within a secure environment.
Secure internet payments
At the same time, the directive promotes stronger security measures for internet payments and for the use of services provided by new market players. It will ensure strong customer authentication to identify the client for each transaction. The new and strengthened supervisory regime will further increase the security level and consumer protection in this field.
Deadline for the member states
Member states will have two years to transpose the directive into their national laws and regulations.
2015 directive on payment services
Full press release
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