The establishment of the Payment Systems Regulator (PSR) represents a significant change for the payments industry, as well as an important new step for the FCA in making sure financial services work well and deliver better outcomes for consumers.
The PSR will regulate the payment systems in the UK that are designated by HM Treasury. HM Treasury is expected to make its designation decisions before the PSR becomes operational on 1 April 2014.
The FCA has now published the PSR Annual Plan and Budget which sets out the PSR’s key aims and activities for 2014/15.
View PSR Annual Plan and Budget 2014/2015, 25 November 2014