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UK Mortgage Rule Review: FCA takes first step in introducing targeted flexibilities into the regulatory framework

The FCA has finalised the changes that were proposed in May this year to make it easier for customers to engage with mortgage providers and make reductions to mortgage terms and remortgaging easier. This includes removing the...more

UK Mortgage Rule Review: FCA discussion paper on future of market seeks views on ‘trade-offs and risks’ that changing its rules...

Following the FCA’s May 2025 ‘first steps’ consultation on proposals to simplify its mortgage framework via a Mortgage Rule Review (MRR), it has now published a discussion paper on the future of the mortgage market. The...more

The Payments Newsletter including Digital Assets & Blockchain, May 2025

Key developments of interest over the last month include: draft legislation to regulate BNPL credit in the UK (in contrast to the de-prioritising of enforcement of BNPL regulatory breaches in the US); final confirmation of UK...more

UK Mortgage Rule Review: FCA consults on 'first steps' aimed at simplifying rules and increasing flexibility

Following a March 2025 press release and letter to the Economic Secretary to the Treasury announcing plans to improve access to mortgages to support the government’s economic growth mission, the FCA has published a ‘first...more

UK payment services: final rules limiting rights for PSPs to exit customer relationships laid before Parliament

While recent announcements have focussed on the government’s growth agenda, HM Treasury (HMT) has also now pressed ahead with publishing final draft regulations limiting the rights for banks and other payment service...more

Digital asset regulation in the UK: A quick guide for overseas entities

Numerous jurisdictions across the globe are developing their own cryptoasset regulatory frameworks—the UK is no exception. Cryptoasset businesses overseas looking to enter the UK market, or to offer services to customers in...more

Consumer Duty: UK FCA finds no room for complacency in firms’ treatment of customers in vulnerable circumstances involving...

Outcomes testing and monitoring under the Consumer Duty, and senior management engagement with these areas, remain key focus areas for the FCA. Whilst the review in question focuses specifically on the treatment of customers...more

UK Consumer Duty rule review: FCA sets out ‘targeted steps’ to simplify requirements for firms

Following feedback to its July 2024 Call for Input (CfI) on placing greater reliance on the Consumer Duty instead of specific rules and guidance, the FCA won’t be carrying out a wholesale Handbook review. It has instead...more

The Payments Newsletter including Digital Assets & Blockchain, March 2025

Key developments of interest over the last month include: the UK government publishing a pro-growth Action Plan for regulators and regulation, including pledges from the FCA of relevance to payments and digital assets firms;...more

The Payments Newsletter including Digital Assets and Blockchain, February 2025

Key developments of interest over the last month include: a new Bill containing detailed new information and account direct deduction obligations for banks and EMIs being introduced to the UK Parliament; the issuing of a...more

The Payments Newsletter including Digital Assets and Blockchain, December 2024

Key developments of interest over the last month include: the U.S. Consumer Financial Protection Bureau publishing a final rule on federal supervision of Big Tech and other widely used digital payment apps; the UK FCA...more

The Payments Newsletter including Digital Assets and Blockchain, November 2024

Key developments of interest over the last month include: the UK Chancellor of the Exchequer makes her first Mansion House speech and HM Treasury publishes the National Payments Vision, indicating a focus on economic growth...more

UK FCA consults on two-stage reforms to safeguarding regime (Part 2)

The FCA believes that there is a continuing problem with poor safeguarding practices across the industry due to poor implementation of the current regulatory framework under the Payment Services Regulations 2017 (PSRs) and...more

The Payments Newsletter including Digital Assets & Blockchain, September 2024

Key developments of interest over the last month include: the UK Payment Systems Regulator publishing a policy statement on directing APP scams reimbursement for CHAPS payments and final guidance on distinguishing between APP...more

UK "de-banking": FCA update report on payment accounts access and closures

The FCA has published a report setting out its findings from follow-up work on payment account access and closures, together with the results of independent research on the experiences some of the most financially excluded...more

Big Tech and digital wallets: UK PSR and FCA publish call for information

The Payment Systems Regulator (PSR) and the Financial Conduct Authority (FCA) have launched a joint call for information on the opportunities and risks of digital wallets for people and businesses. This comes as recent data...more

The Payments Newsletter including Digital Assets & Blockchain, July 2024

Key developments of interest over the last month include: the Bank of Italy’s communication on unauthorised payment transactions; the Reserve Bank of Australia’s announcement of an upcoming review into retail payments...more

UK PRA Strong and Simple framework: Policy statement on Phase 1 of 'simpler regime' work published

The Prudential Regulation Authority (PRA) has published a policy statement (PS15/23) on scope, criteria, liquidity, reporting and disclosure requirements under the Strong and Simple framework. This is a set of prudential...more

UK Government’s legislative proposal indicates the approach to buy-now-pay-later regulation

The UK Government’s proposed amendments to the Financial Services Bill are the first step towards the regulation of buy-now-pay-later products. The amendments do not yet bring about regulation but will enable HM Treasury to...more

And so it begins: FCA consults on post-Brexit changes to SCA-RTS and Payments Approach Document

Barely a month since the end of the post-Brexit transition period, the FCA is consulting on changes to the onshored SCA-RTS and to the guidance in its Payment Services and E-Money Approach Document (and PERG). ...more

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