The UK Payment Systems Regulator (PSR) has published consultation paper CP25/2 alongside a new webpage, proposing the revocation of Specific Direction 4 (SD4) and its amendment, SD4a. SD4, introduced following the PSR's 2016...more
The UK Financial Conduct Authority (FCA) has published the findings of its multi-firm review into risk management and wind-down planning across e-money and payment firms. While the FCA had observed examples of good practice...more
The European Banking Authority has finalized two sets of guidelines setting common standards on the governance arrangements and the policies, procedures, and controls that financial institutions should have in place to be...more
The FCA has published a Portfolio letter setting out its priorities for payments and e-money firms amidst tightening economic conditions and the cost-of-living crisis. Among the three outcomes that it has set for firms in...more
New guidelines reflect the rise of outsourcing by financial institutions in a new era of disintermediation and technological change. In February 2019, the European Banking Authority (EBA) published its final guidelines on...more