The NPV aims to promote growth and international competitiveness by advancing open banking, re-evaluating the approach to regulating the sector, and continuing the fight against fraud....more
The UK’s consultation on deregulating commercial agents could have knock-on impacts on payment services and create regulatory divergence from the EU....more
8/20/2024
/ Agents ,
Consultation ,
Deregulation ,
E-Commerce ,
EU ,
European Commission ,
Online Marketplace ,
Payment Services Directive ,
Payment Systems ,
PSD2 ,
UK
Assertive regulators are bringing greater clarity and new challenges as they step up oversight of fintech innovation.
As the fast-growing fintech industry thrives, the sector has begun to attract greater regulatory...more
UK Finance, The Payments Association, and Latham & Watkins have published UK Payments Regulation Review: Making sense of where to go now, a new report examining regulation of the UK’s payments industry and its impact on the...more
The additional temporary guidance aims to strengthen the arrangements for safeguarding customers’ funds and firms’ prudential risk management in light of the impact of COVID-19.
On 9 July 2020, the FCA published its...more
Bank for International Settlements selects Bank of England as the UK centre to host new FinTech hub.
On 30 June 2020, the Bank of England announced that it had been selected to host a centre of the Bank for International...more
Call for input: market players need to engage with the process for the procurement of the NPA -
This Call for Input is part of the development of the Payment Systems Regulator’s (PSR) policy for the future regulation of...more
From August 2019, certain existing FCA rules and guidance will extend to payment service providers and e-money issuers in a signal that the FCA wants a consistent approach to consumer protection.
The FCA has published a...more
This update takes a look at the FCA’s Interim Report and its initial views relating to the review of the provisions of the Consumer Credit Act 1974 (CCA), which show early signs of a more pragmatic approach to regulation than...more
8/14/2018
/ Consumer Financial Contracts ,
Consumer Financial Products ,
Consumer Lenders ,
Consumer Protection Laws ,
Credit Reporting Agencies ,
Credit Reports ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSMA ,
HM Treasury ,
Payment Systems ,
UK ,
UK Brexit
The PSR is to consider whether there is effective competition in the market and makes clear that further reviews of the payments ecosystem could be triggered by its findings -
The Payment Systems Regulator (PSR) has...more
The consolidation of UK payment system operators marks another big step in delivering on the New Payments Architecture.
What happened?...more
Bank of England announces that, for the first time, a non-bank payment services provider has accessed the UK payments system directly.
The Bank of England has announced that a regulated payment services provider (PSP) has...more