In our latest briefing, we consider the key takeaways for firms under the Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations, which will amend the Payment Account Regulations 2015 and provide greater protection for users of payment services against the termination of those services without sufficient notice or protection. The Regulations will
On 19 December 2025, the Payment Systems Regulator (PSR) issued a consultation paper, CP25/3, setting out changes that will give businesses more information on the card payment (scheme and processing) fees they pay and give the PSR a better understanding of how the level of these fees is set.
CP25/3 follows an
On 14 November 2025, the Chancellor of the Exchequer sent a letter to the Chief Executive of the Financial Conduct Authority (FCA) and Managing Director of the Payment Systems Regulator (PSR) providing recommendations on payments regulation. On 16 December 2025, there was published the joint response from the FCA and the
On 28 October 2025, Treasury released for consultation the draft Payment Systems Legislation Amendment (2025 Measures No. 1) Regulations 2025 (the draft Regulations) and its Explanatory Statement.
The purpose of the draft Regulations is to support the amendments in Schedule 1 to the Treasury Laws Amendment (Payments System Modernisation) Bill 2025 (the Bill)
On 17 June 2025, the European Commission (Commission) published a draft legislative package on the review of the EU’s securitisation framework. Since then, the European Parliament and the Council have been considering the draft legislative proposals. This briefing note provides an update on where things stand now.
Background
The current EU securitisation framework
On 9 October 2025, the Financial Stability Board (FSB) published a consolidated progress report for 2025 on actions taken by it and other organisations under the G20 Roadmap for Enhancing Cross-Border Payments.
Background
Previously, the Saudi Arabian G20 Presidency made enhancing cross-border payments a priority and asked the FSB to develop and coordinate
On 8 September 2025, the Wolfsberg Group published guidance on the provision of banking services to fiat-backed stablecoin issuers.
The Wolfsberg Group is an association of 12 global banks which aims to develop frameworks and guidance for the management of financial crime risks. The Wolfsberg Group notes that the increased adoption of fiat-backed stablecoins represents
On 14 August 2025, the Bank of England (BoE) added two new webpages: The National Payments Vision and The Vision Engagement Group.
The National Payments Vision sets out the Government’s ambition for a payments ecosystem delivered on next-generation technology, where consumers and businesses have a choice of payment methods to meet their
On 13 August 2025, there was published in the Official Journal of the European Union European Central Bank Decision (EU) 2025/1734 on safeguards in relation to access by central counterparties (CCPs) to the Eurosystem’s dedicated overnight credit facility under TARGET. The ECB Decisions was adopted on 31 July 2025 where eligible CCPs (those
On 7 August 2025, the Financial Conduct Authority (FCA) published a Policy Statement, PS25/12, setting out changes to the safeguarding regime for payments and e-money firms. The FCA has also published its related amendments to ‘Payment Services and Electronic Money – Our Approach’.
Background
In January 2023, HM Treasury published its Payment Services