On 12 June 2025, HM Treasury issued a series of Wholesale Cash Oversight Orders, officially recognising certain firms that are subject to regulatory oversight within the wholesale cash distribution (WCD) sector.

These firms have been recognised under Part 5A of the Banking Act 2009 as ‘specified persons’, meaning they must adhere to standards set forth in the Codes of Practices and be monitored by the Bank of England in its WCD activities.