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
On 31 January 2025, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2025/212 of 13 September 2024 correcting Commission Delegated Regulation (EU) 2017/2055 supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council with regard to regulatory technical standards for the cooperation and exchange
On 30 January 2025, the Payment Systems Regulator (PSR) issued a statement of policy which explains its approach to cost benefit analysis (CBA) and how the CBA framework helps it develop policies with a positive impact.
Background
In February 2024, in anticipation of the formation of the CBA Panel, the PSR
On 17 January 2025, the European Banking Authority (EBA) issued a press release stating that it had repealed its guidelines on major incidents reporting under the revised Payment Services Directive (PSD2) due to the application of harmonised incident reporting under the Digital Operational Resilience Act (DORA) from 17 January
On 13 December 2024, the Payment Systems Regulator (PSR) published a consultation paper, CP24/14, setting out potential remedies to the issues identified in the Final Report of its Market Review into Cross Border Interchange Fees.
The proposals
The PSR’s Final Report on its Market Review found several harms associated with the lack
On 16 December 2024, the Bank of England (BoE) published a speech on Payment cycles: An update on the Future Roadmap for the RTGS service, which was delivered by its executive director for payments, Victoria Cleland, at FinTech Connect on 5 December 2024.
Background
The BoE published a discussion paper on
On 12 December 2024, HM Treasury (HMT) and the Economic Secretary to the Treasury, Tulip Siddiq MP, announced the launch of an independent review of the Payment and Electronic Money Institution Insolvency Regulations 2021.
Background
The Payment and Electronic Money Institution Insolvency Regulations 2021 introduced a new Payment and Electronic Money Special