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David McIlroy: MBL Seminar on the Electronic Money Regulations and Cryptocurrencies

MBL Virtual Seminar: The Electronic Money Regulations and Cryptocurrencies – An Advanced Guide

On the 14th March 2023, from 09:00-10:30am, Forum Chambers Head of Chambers and Visiting Professor in Banking Law at Queen Mary University of London and at the University of Notre Dame (USA) in England, David McIlroy, will be presenting an informative and advanced guide on the Electronic Money Regulations (‘EMR’) and Cryptocurrencies.

Although the Electronic Money Regulations (‘EMR’) have been in force since 2011, they are poorly understood, with the Court of Appeal in Re Ipagoo LLP disagreeing with the financial services regulator about the application of the EMR.

FCA v Allied Wallet Ltd provides a clear warning that fintech companies face significant penalties, including closure, if they breach the EMR.

The EMR are only going to increase in importance as they will apply to those cryptocurrencies that are stablecoins.

This new virtual classroom seminar is suitable for litigation solicitors, regulatory solicitors, and compliance staff at fintech firms.

What You Will Learn

This live and interactive session will cover the following:

  • The regulatory regime applicable to electronic money institutions
  • The role, responsibility, and regulatory position of agents of electronic money institutions
  • What the safeguarding requirements of the EMR oblige fintech companies to do to protect their clients’ funds, and what the consequences are if those requirements are not complied with
  • The priorities of claims in the event of the insolvency of an electronic money institution
  • How the EMR interacts and overlap with the Payment Services Regulations 2017
  • The powers of the regulator over electronic money institutions
  • The claims consumers can bring for breaches of the EMR
  • Why, and how, the EMR apply to stablecoins but not to other types of cryptocurrencies

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording – should you wish to revisit the material discussed.

To learn more and to register for this online seminar, head over to MBL Seminars website today: https://www.mblseminars.com/Outline/The-Electronic-Money-Regulations-_-Cryptocurrencies—An-Advanced-Guide—Learn-Live/16461.

For more about David McIlroy and his areas of practice: https://forumchambers.com/our-people/david-mcilroy/.

If you require our services in legal areas akin to those considered above, or in any other of our areas of practice and expertise, do not hesitate to get in touch with us by phone, email or contact form below.