Payment services

On 18 June 2025, the Council of the EU issued a press release stating that Member States’ representatives (Coreper) had approved the Council’s stance on the proposed Payment Services Regulation and the Payment Services Directive 3. The agreement on the Council’s negotiating mandate allows the Presidency to start negotiations with the European Parliament on a

On 12 June 2025, the Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025 were made together with an explanatory memorandum.

These Regulations amend regulation 51 of the Payment Services Regulations 2017 to impose new requirements on payment service providers (PSPs) in relation to the termination of framework contracts for payment

On 8 April 2025, the Bank of England (BoE) published its response following its discussion paper on reviewing access to Real-Time Gross Settlement (RTGS) accounts for settlement.

In its response the BoE provides its comments on the feedback it received to its discussion paper which encouraged respondents to think strategically about

On 6 February 2025, HM Treasury published an implementation plan for the UK’s transition from T+2 to T+1 securities settlement, produced by the Accelerated Settlement Taskforce (AST) Technical Group.

Background

The AST was created to explore the potential for faster settlement of securities trades in the UK. It published its report in

On 6 February 2025, there was published in the Official Journal of the EU, Decision (EU) 2025/222 of the European Central Bank of 27 January 2025 on access by non-bank payment service providers to Eurosystem central bank operated payment systems and central bank accounts. The Decision seeks to enhance the efficiency and smooth functioning of

On 4 February 2025, the Payment Systems Regulator (PSR) published a policy statement on its new compliance monitoring framework, setting out how it will monitor compliance and identify non-compliance.

Background

In a thought piece accompanying the policy statement, the PSR flags that it has been busy in recent years with several important new

On 3 February 2025, the Financial Conduct Authority (FCA) published a portfolio letter to payments firms, setting out its priorities for supervision and its expectations of those firms.

The letter applies to firms authorised or registered under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011, such as payment institutions