On 28 April 2025, there was published on legislation.gov.uk a draft of The Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025.
HM Treasury has also issued a press release in which it notes, among other things that banks and other payment service providers will be required to give customers at least 90
On 2 April 2025, the Competition and Markets Authority (CMA) launched a consultation on its review of those provisions of the SME Banking Undertakings 2002 which remain in force.
Background
The CMA reviewed the SME Banking Undertakings 2002 in 2014 and decided in 2016 to release all but 4 provision in the Undertakings.
On 14 March 2025, the Financial Conduct Authority (FCA) issued an Engagement Paper on contactless payment limits.
Background
The FCA currently set limits on the value and number of contactless payments that can be made before requiring authentication. Most banks and other payment service providers (PSPs) default to the regulatory limits
On 5 February 2025, the Basel Committee on Banking Supervision (Basel Committee) issued a public consultation on a limited update of the Principles for the Management of Credit Risk (Credit Risk Principles).
The Credit Risk Principles provide guidelines for banking supervisory authorities to evaluate banks’ credit risk management processes in certain
On 4 February 2025, the Basel Committee on Banking Supervision (Basel Committee) published its work programme and strategic priorities for 2025/26.
The programme prioritises work on Basel III implementation, risk assessment and safeguarding resilience, digitalisation, and liquidity. As part of its work on risk assessment the Basel Committee will pursue a deep
We have published a new briefing note concerning the CRD VI – The new rules for cross-border banking business from third countries under CRD VI: What should non-EEA firms do now?
On 27 January 2025, the Lending Standards Board (LSB) published its consultation response and next steps following a review of its Standards of Lending Practice for Personal Customers (the personal Standards). The document includes the announcement that the personal Standards will be retired on 31 March 2025.
Background
The personal Standards, which
On 23 January 2025, the Bank Recapitalisation Bill was voted through its second reading.
As mentioned by City Minister Emma Reynolds MP in the debate:
“The Bill does four main things. First, it expands the statutory functions of the Financial Services Compensation Scheme, giving the Bank of England the power to require the FSCS to
On 21 January 2025, the Prudential Regulation Authority (PRA) published a ‘Dear CEO’ letter setting out its 2025 priorities in relation to the supervision of international banks.
In the letter, which was sent to Chief Executive Officers of PRA regulated international banks active in the UK, the PRA explains that the common theme