In our 2024 FinTech Outlook, our lawyers from across Europe, the Middle East, Asia and the US share their insights on what to expect across the regulatory landscape in relation to FinTech and cryptoassets in 2024.
PSR Letter to Pay UK on Approach to Reviewing FPS Reimbursement Monitoring Proposals
On 23 February 2024, the Payment Systems Regulator (PSR) published a letter providing details of how it will assess Pay.UK’s proposals for monitoring compliance with the Faster Payment System (FPS) reimbursement rules to determine whether to approve them.
Background
In Policy Statement PS23/3, the PSR set out its view that Pay.UK
BoE publishes discussion papers on RTGS operating hours and access policies
On 8 February 2024, the Bank of England (BoE) published two discussion papers on its Real Time Gross Settlement (RTGS) service operating hours and access policies.
The discussion papers are part of the BoE’s work to renew its RTGS services, which will include the introduction of a new core ledger settlement
New article – Bank sector M&A trends for 2024
Last year was somewhat turbulent for bank M&A with activity in the market being driven from a variety of factors. In our recently published article on bank sector M&A trends for 2024, we look at five trends which will potentially have the biggest impact on dealmaking in the year ahead. These include: the impact
Response to BoE and HMT Consultation Paper – The digital pound: A new form of money for households and businesses?
On 25 January 2024, the Bank of England (BoE) and HM Treasury (HMT) published their response to the consultation on a ‘digital pound’, which was launched in February 2023 and received over 50,000 responses. In the response they confirmed that no final decision has been made to pursue a digital pound
New briefing note: The future financial services regulatory regime for cryptoassets in the UK
In late 2023, HM Treasury set out its final proposals for the UK’s future financial services regulatory regime for cryptoassets, confirming its intention to bring a number of crypto activities into the regulatory perimeter for the first time. A week after HM Treasury’s final proposals were published, the FCA and the Bank of England both
New online briefing note – The anti-greenwashing rule: Proposed FCA guidance
We have published a new online briefing note, The anti-greenwashing rule: Proposed FCA guidance.
The briefing note can be found here.
New online briefing note – Horizon scanning – Ten regulatory topics to look out for in 2024
We have published a new online briefing note, Horizon scanning – Ten regulatory topics to look out for in 2024.
The briefing note can be found here.
Merry Christmas and a Happy New Year to our readers
To all of our global readers we would like to take this opportunity to wish you all a Merry Christmas and a Happy New Year.
We will resume posting material following the festive period on 9 January 2024 although if there are any significant developments we will endeavour to provide an update.
PSR consults on expanding variable recurring payments
On 18 December 2023, the Payment Systems Regulator (PSR) published a consultation paper, CP23/12, on expanding variable recurring payments (VRPs). In CP23/12, which has been published alongside a progress update from the Joint Regulatory Oversight Committee (JROC), the PSR is consulting on changes to Faster Payments to enable