On 29 May 2024, the Payment Systems Regulator (PSR) published a policy statement, PS24/1, setting out its decision to update the list of legal entities subject to Specific Directions 14, 15 and 16, which were the remedies introduced in 2022 as a result of the PSR’s card acquiring market review.

Those Directions were

On 24 April 2024, the Payment Systems Regulator (PSR) published a Call for Views on its proposed approach to supervision.

Background

The PSR established a Supervision and Compliance Monitoring division last year, with the aim of driving compliance with the PSR’s requirements. Ensuring compliance has become increasingly important for the PSR as it

On 17 April 2024, the Payment Systems Regulator (PSR) published Consultation Paper CP24/3 on the Faster Payments System (FPS) authorised push payments (APP) scams reimbursement requirement: compliance and monitoring.

Background

The PSR published Policy Statement PS23/3 and PS23/4 in 2023, setting the detailed parameters for the FPS APP scams

On 15 April 2024, Sarah Breeden, Deputy Governor of Financial Stability at the Bank of England (BoE), delivered a speech explaining how the BoE seeks to deliver trust and support innovation, both as a provider and as a regulator of retail and wholesale money, against the backdrop of significant technological change in payments.

On 19 March 2024, there was published in the Official Journal of the EU (OJ), Regulation (EU) 2024/886 of the European Parliament and of the Council of 13 March 2024 amending the Single Euro Payments Area Regulation, the Cross-Border Payments Regulation, the Settlement Finality Directive and the Second Payment Services Directive as regards

On 15 March 2024, the Council of the EU published the updated text of the proposed Regulation amending the Single Euro Payments Area Regulation, the Cross-Border Payments Regulation, the Settlement Finality Directive and the Second Payment Services Directive as regards instant credit transfers in euro.

On 26 February 2024, the Council of the EU issued

On 14 March 2024, HM Treasury (HMT) published a near final version of the Payment Services (Contract Terminations Amendment) Regulations 2024 together with a policy note.

The draft statutory instrument and policy note follows HMT’s earlier policy statement published last November on payment service contract termination rule changes. The policy statement was