UK, Reporting Requirements, Fraud

Recent Developments for UK PLCs June 2025

Latham & Watkins LLP on 6/6/2025

On 3 June 2025, the Financial Reporting Council (FRC) published the UK Stewardship Code 2026. The new Code, effective from 1 January 2026, aims to foster long-term sustainable value creation and improve engagement quality...more

PSR publishes policy statement on 2024 APP scams data

A&O Shearman on 3/18/2025

The UK Payment Systems Regulator (PSR) has published a policy statement outlining its approach to publishing authorised push payment (APP) scams data for 2024. In 2025, the PSR will take a different approach to publishing...more

UK APP fraud: What in-scope PSPs need to know about the new mandatory reimbursement regime

Hogan Lovells on 10/23/2024

Over the past few years, the Payment Systems Regulator (PSR) and Bank of England (BoE) have published a huge number of consultations, guidance documents and specific directions outlining the requirements under the new regime...more

Mandatory Reimbursement for App Fraud: What Payment Service Providers Need to Consider Ahead of Implementation

BCLP on 8/21/2024

The controversial new requirement for all in-scope Payment Service Providers (“PSPs”) to reimburse victims of Authorised Push Payment (“APP”) fraud are due to be introduced from 7 October 2024. This is a significant change...more

New Rules To Tackle Authorised Push Payment Fraud

Skadden, Arps, Slate, Meagher & Flom LLP on 4/4/2024

Authorised push payment (APP) fraud in the UK is the largest type of payment fraud, both in number of scams and value of losses. It involves a fraudster convincing someone to send a payment to a bank account that the...more

Companies House to impose new ID verification requirements

Morrison & Foerster LLP on 12/22/2023

The Economic Crime and Corporate Transparency Act 2023 (“ECCTA”) introduces changes to UK company law to ensure accuracy of public information and reduce the possibility of fraud. Some of the key points are:...more