On the 16 July 2025, the Payment Systems Regulator (PSR) published its dashboard on the management of reimbursement claims since its policy was imposed on in-scope firms 6 months ago. It remains...
The Financial Conduct Authority’s (FCA or the ‘regulator’) latest communication on improving contactless payments has sparked a great deal of interest in the payments industry. The proposed approach involves a physical payment...
FCA Enforcement has taken a “use it or lose it” stance on payment firms to visibly use their licences, or risk the chances of it being revoked: Last week the regulator published...
On the 12 April 2025, the FCA provided a concentrated review on how banks and building societies handled customer bereavement and power of attorney (PoA). Whilst the review focused on banks and...
In January 2024, the FCA (‘the Regulator’) sample tested 23 payment firms (‘firms’) to assess the sector’s response to Consumer Duty (‘the Duty’) implementation and specific risks communicated in its Dear CEO...
On the 12 March 2024 HM Treasury (‘HMT’) communicated its proposal to introduce a new statutory instrument, Payment Services (Amendment) Regulations 2024, which will enable payment processing to be delayed, where there...
Outcomes Monitoring and Testing Consumer Duty was never intended to be a “once and done” exercise by the Regulator. Indeed, from the start of our communications and guidance in and around Consumer...
The Financial Conduct Authority (FCA) has recently published details of its key findings from its multi-firm review of how the risks of Authorised Push Payment Fraud (‘APP Fraud’) and fraud attacks are mitigated...
On 31st July 2023, the FCA implemented the Consumer Duty as a regulatory requirement for new and existing products and services that are open for sale or renewal, by regulated and authorised...
The Payment Systems Regulator (‘PSR’ or the ‘regulator’) has recently introduced its world-first reimbursement requirement (‘reimbursement’) to Authorised Push Payment Fraud (APP) victims and E-money Institutions, Payment Institutions (PSPs) and banks, in...
The Payment Systems Regulator (PSR) has cast a keen eye on managing the ever-rising battle for the payments industry to address the increasing problem of Authorised Push Payment (APP) fraud. With backing...
Following our previous article (on 08 September 2021) on the proposed delivery and regulation of the New Payments Architecture (NPA), this article provides a snapshot review of the Payment System Regulator’s (PSR’s)...
Background On 29 July 2021, the Payment Systems Regulator (PSR) announced its decision to phase the development of the UK’s New Payments Architecture (NPA) by narrowing the scope of the NPA central...