Treasury consults on PAR information requirements

Treasury is consulting on the customer information requirements in the Payment Accounts Regulations.  It is reviewing the requirements in the Schedules to the Regulations, in the expectation that many of them are too prescriptive or less necessary than they were before Brexit. The consultation asks whether respondents agree with its conclusions and asks whether they see any benefit in requiring PSPs to provide Fee Information Documents and Statements of Fees – and generally whether the levels and presentation of information is helpful. It also asks whether the requirement for FCA to maintain a linked services list and for PSPs to provide customers with a glossary of related definitions is helpful.  Finally, it asks for views generally on the benefits, risks and costs of keeping or removing the Schedules 1 and 2 to the PARs.

Consultation closes on 17 February 2023.

Emma Radmore