FCA updates on SCA expectations

FCA has updated its webpage on SCA to explain the changes to the SCA-RTS in respect of the new exemption that means customers will not need to reauthenticate when accessing account information through a TPP, if ASPSPs adopt the exemption.  TPPs will have to get explicit consent from customers at least every 90 days in place of reauthentication. FCA is encouraging ASPSPs to apply the exemption as soon as possible after the effective date of 26 March, with a view to widespread adoption by 30 September.  It expects TPPs to be technically ready to reconfirm consent from the end of March but will not object if they do not do so until 30 September so long as SCA is applied at least every 90 days during that period.

Emma Radmore