There has been published on the legislation.gov.uk website The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (the Order).
The Order will allow service providers to systemically important payment systems to be supervised by the Bank of England (BoE), if recognised by HM Treasury. The BoE already has powers to supervise systemically important payment systems recognised by HM Treasury in order to manage the systemic risks that they could pose to UK financial stability, but not those firms providing services (e.g. infrastructure) to them. In some cases, service providers are crucial to the functioning of major UK payment systems. This amendment is intended to close the gap in the BoE’s oversight of systemically important systems.
View The Banking Act 2009 (Service Providers to Payment Systems) Order 2017, 30 November 2017