In this podcast Matthew Gregory, Haney Saadah and Janna Garcia discuss the Financial Conduct Authority’s recent multi-firm review of risk management and wind-down planning
at e-money and payments firms alongside the regulator’s Dear CEO letter from earlier this year which outlined the FCA’s priorities for payments firms.
Listen to this episode here.
On 26 June 2025, the Financial Conduct Authority (FCA) published its findings following a multi-firm review of risk management and wind-down planning at e-money and payments firms.
Key finding
The FCA’s key finding following the review is that risk management frameworks and wind-down plans in firms remain underdeveloped.
None of the firms the
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 19 February 2025, the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) published a feedback statement, FS25/1, on big tech and digital wallets.
Background
The FCA and PSR published a call for information in July 2024 on the benefits and risks that digital wallets bring to people
On 19 February 2025, HM Treasury (HMT), the Financial Conduct Authority (FCA) and the Bank of England (BoE) confirmed that they support the industry recommendation to move to T+1 settlement in UK markets by 11 October 2027, as set out in the Accelerated Settlement Taskforce Technical Group’s report published
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