Authorised Push Payment (APP) fraud continues to be one of the most damaging and rapidly evolving forms of financial crime in the UK. In these scams, victims are tricked into willingly transferring money to fraudsters under the guise of legitimate transactions. Unlike unauthorised fraud, where criminals gain access to accounts without consent, APP
On 16 December 2025, HM Treasury published the Final Report of the Independent Review of the Payment and Electronic Money Institution Insolvency Regulations 2021. The Final Report considers the efficacy of the Payment and Electronic Money Special Administration Regime (PESAR), with particular focus on whether the PESAR achieves its core statutory objectives. It
On 5 December 2025, the European Banking Authority (EBA) published a follow-up peer review report on authorisations under the revised Payment Services Directive (PSD2).
Background
The report follows-up on the EBA’s 2023 peer review report on the authorisation of payment institutions and electronic money institutions under the PSD2. It also discusses
On 20 November 2025, the Australian Securities and Investments Commission (ASIC) published a speech by ASIC Commissioner Kate O’Rourke.
The speech sets out how Australia’s payments ecosystem is undergoing profound, technology‑driven transformation, with consumers and merchants embracing fast, convenient, low‑cost digital payments. This uptake suggests to ASIC high levels of consumer trust in
On 9 October 2025, the Albanese Government released an exposure draft of a Bill that lays the foundations for a new regulatory framework for payment service providers (PSPs). The draft Bill builds on the changes the Government made last month with the passage of the Treasury Laws Amendment (Payments System Modernisation) Bill 2025
On 8 September 2025, HM Treasury issued a consultation paper, A Streamlined Approach to Payment Systems Regulation.
In the consultation paper HMT sets out proposals for integrating the functions of the Payment Services Regulator (PSR) entirely within the Financial Conduct Authority (FCA).
Background
Earlier this year the UK Government announced
On 8 August 2025, the Financial Conduct Authority (FCA) published Feedback Statement 25/4: Design of the Future Entity for UK open banking (FS25/4).
Background
In March 2022, the FCA together with the Payment Systems Regulator, Competition and Markets Authority and HM Treasury announced the creation of a Joint Regulatory Oversight Committee
On 17 July 2025, the Payment Systems Regulator (PSR) published the figures it uses to calculate the regulatory fees for each PSR fee payer in 2025/26. The PSR publishes a similar document each year to provide the updated figures. Further information regarding the way the PSR collects and allocates its fees can be
On 15 July 2025, the Reserve Bank of Australia (RBA) issued a paper that sets out preliminary conclusions of the Payments System Board (PSB) following an earlier consultation process undertaken after the release of the Merchant Card Payment Costs and Surcharging Issues Paper in October 2024. The paper also includes for
In the latest episode of our EMEA Insights series, Sebastien Praicheux from our Paris office discusses France’s advocation for better regulation at the EU level, the recent EBA no action letter regarding the PSD2’s interaction with MiCA and ECB Decision (EU) 2025/1148 amending the rules governing access by non-bank payment service providers to eurosystem payment