Following the FCA’s January 2025 response to the government’s request for ideas to support its growth mission for the UK economy, the regulator has now written to the Economic Secretary to the Treasury, and released other...more
Key developments of interest over the last month include: a new Bill containing detailed new information and account direct deduction obligations for banks and EMIs being introduced to the UK Parliament; the issuing of a...more
Key developments of interest over the last month include: the U.S. Consumer Financial Protection Bureau looking at digital payment privacy and consumer protections; the UK FCA publishing a discussion paper on admissions and...more
1/23/2025
/ Banking Sector ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Cryptocurrency ,
Data Privacy ,
Digital Assets ,
Digital Currency ,
Financial Conduct Authority (FCA) ,
Financial Institutions
Key developments of interest over the last month include: the UK Chancellor of the Exchequer makes her first Mansion House speech and HM Treasury publishes the National Payments Vision, indicating a focus on economic growth...more
The Financial Conduct Authority (FCA) is turning its thoughts to the year ahead in publishing a series of portfolio letters focusing on its 2025 supervisory priorities for retail banks, building societies, non-bank mortgage...more
The Payment Systems Regulator (PSR) is consulting on a proposal to direct banks and other payment firms participating directly or indirectly in CHAPS (the UK’s high-value payment system) to reimburse their customers who have...more
On 17 April 2024, the Payment Systems Regulator (PSR) published a consultation on the data and information that payment service providers (PSPs) will be required to provide to Pay.UK to enable it to monitor effectively...more
On 20 February 2024, the FCA published details of recent good practice in Consumer Duty implementation and highlighted areas for improvement. As well as this, the FCA also published the results of a second survey of firms on...more
In July 2023, the UK government committed to changing the requirements on payment service providers (PSPs) when terminating payment service contracts. HM Treasury has now published draft regulations amending the Payment...more
In its 2023 Fraud Strategy, the UK government committed to looking at changes to allow payment service providers (PSPs) more time to investigate suspicious payments to help tackle authorised push payment (APP) fraud. HM...more
The UK Government’s proposed amendments to the Financial Services Bill are the first step towards the regulation of buy-now-pay-later products. The amendments do not yet bring about regulation but will enable HM Treasury to...more