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European Union › Payment Systems › United Kingdom

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
Ropes & Gray LLP

FCA Extends Investment Research Payment Optionality to Fund Managers

Ropes & Gray LLP on

Last month the Financial Conduct Authority (FCA) set out its final rules related to the application of investment research payment optionality to fund managers. This move follows its consultation paper late last year which...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, April 2025

Hogan Lovells on

Key developments of interest over the last month include: the Central Bank of Somalia announcing the launch of the Somalia Instant Payment System (SIPS), the country’s first nationwide instant payments infrastructure; the...more

A&O Shearman

FSB forum on cross-border payments data

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The Financial Stability Board (FSB) has announced the establishment of a forum on cross-border payments data, a key outcome from the FSB's recommendations for data frameworks related to cross-border payments published in...more

A&O Shearman

Bank of England discusses opportunities in innovating wholesale payments

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Victoria Cleland, Executive Director of Payments, Bank of England (BoE) has given a speech on innovating wholesale payments: building a resilient and innovative future. In the speech, Ms Cleland discusses the BoE's innovation...more

A&O Shearman

Financial Stability Board issues recommendations for regulating cross-border payments

A&O Shearman on

The Financial Stability Board has published two final reports on recommendations to promote greater alignment and interoperability across data frameworks related to cross-border payments, and consistency in the regulation and...more

A&O Shearman

UK Independent Review of the Payment and Electronic Money Institution Insolvency Regulations 2021

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HM Treasury has published its letter inviting Adam Plainer to lead an independent review of the Payment and Electronic Money Institution Insolvency Regulations 2021 (PESAR)...more

A&O Shearman

EU Listing Act Package Published in Official Journal of the European Union

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The following legislation that comprises the EU Listing Act package has been published in the Official Journal of the European Union: - Regulation (EU) 2024/2809 amending the EU Prospectus Regulation, the EU MAR and EU...more

Eversheds Sutherland (US) LLP

Payment matters - October 2024

Eversheds Sutherland (US) LLP on

Upcoming global developments for the payment sector - Asia - 1. Hong Kong: Launch of Phase 2 of the e-Hong Kong Dollar Pilot Programme - On September 23, 2024, the Hong Kong Monetary Authority (HKMA) announced the...more

A&O Shearman

UK Draft Payment Services (Amendment) Regulations 2024 Published

A&O Shearman on

HM Treasury has published a final draft version of the Payment Services (Amendment) Regulations 2024, enhancing efforts to address authorized push payment fraud. The draft Regulations amend regulation 86 of the Payment...more

A&O Shearman

UK Financial Conduct Authority Updates Timings on Smarter Regulatory Framework Work

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Consumer Composite InvestmentsThe FCA plans to publish a consultation paper in H2 and a policy statement in H1 2025. Long Term Investment FundsThe FCA will review responses to its consultation on removing references to LTIF...more

White & Case LLP

Sector trends - September 2024: Payments

White & Case LLP on

Equity and debt cheques from financial sponsors fuel growth, with investment committee appetite across the full spectrum from Seed through to late stage / pre-IPO. The payments sector bucks the trend on IPOs. Current...more

A&O Shearman

UK Financial Conduct Authority Consults on Changes to the Safeguarding Regime for Payments and E-Money Firms

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The U.K. Financial Conduct Authority had published a consultation on proposals to address weaknesses in the safeguarding regime for payments and e-money firms. The FCA explains that there remain poor practices across the...more

A&O Shearman

UK Payment Systems Regulator Confirms Maximum Reimbursement Limit for Authorized Push Payment Scams Reimbursement

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On 25 September, the U.K. Payment Systems Regulator confirmed that the maximum reimbursement limit for victims of Faster Payments Authorized Push Payment scams will be £85,000. The PSR began consulting on reducing the...more

Latham & Watkins LLP

UK Government Launches Consultation on Deregulating Commercial Agents

Latham & Watkins LLP on

The UK’s consultation on deregulating commercial agents could have knock-on impacts on payment services and create regulatory divergence from the EU....more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, February 2024

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Key developments of interest over the last month include: the European Parliament’s ECON Committee adopting draft reports on the European Commission’s PSR and PSD3 legislative proposals; ESMA consulting on 'reverse...more

A&O Shearman

Key Regulatory Topics Weekly Update 16 February to 22 February 2024

A&O Shearman on

Of particular note this week in the EU, the Council adopted the legislative package to strengthen market data transparency which includes changes to the EU’s trading rules on market data, payment for order flow and commodity...more

A&O Shearman

Paving the way for the future of payments – Instant payments at a glance

A&O Shearman on

As the final compromise text of the so-called Instant Payments regulation has just been published, our regulatory payment experts have summarised the key obligations that will apply to payment service providers in this...more

Latham & Watkins LLP

The Edinburgh Reforms - Where Are We Now?

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As the pace of reform increases, we take a look at key developments and the timeline ahead. Significant progress has been made on the Edinburgh Reforms since they were announced in December 2022, with developments...more

Latham & Watkins LLP

E-Money, Payment Services, and Insolvency

Latham & Watkins LLP on

Consumers and service providers should take note of some of the enhanced risks upon an e-money institution’s insolvency. Technology is rapidly changing the way customers and businesses interact with financial systems....more

Latham & Watkins LLP

BIS Issues Final Guidance on Stablecoin Regulation

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The global central bank cooperative body would bring stablecoins within the international standards for payment, clearing, and settlement systems....more

Hogan Lovells

Global Payments Newsletter, July 2022

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Key developments of interest over the last month include: UK Financial Services and Markets Bill 2022-23 introduced to Parliament; US Treasury publishes framework for international engagement on digital assets; and European...more

Perkins Coie

Fintech Legal Report - July 2022 #2

Perkins Coie on

Dem Senators Urge CFPB Focus on P2P Payment Platforms - A group of Democratic U.S. senators sent a letter to the Consumer Financial Protection Bureau (CFPB) urging the agency to take a harder look at peer-to-peer (P2P)...more

BCLP

Banking Bites - May 2022 #2

BCLP on

Privy Council rules against extension of the Quincecare duty - Does a bank owe a duty of care to a person who is the beneficial owner of funds held in the account of a customer of the bank and who has been defrauded by...more

A&O Shearman

Key Regulatory Topics: weekly Update 15 October to 21 October 2021

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Of particular note this week, HM Treasury published a policy paper on ‘Greening Finance: A Roadmap to Sustainable Investing’ which sets out the UK government’s ambition to support the financial services sector to align with...more

Hogan Lovells

Payments regulatory news, March 2021 # 3

Hogan Lovells on

Strategic trends - Pay.UK report and Knowledge Hub Pay.UK has announced the publication of a report exploring the key trends that are shaping the future of retail payments. ...more

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