The European Commission has issued a consultation paper seeking the views of consumers, corporate users and payment service providers (PSPs) on the use of instant payment transfers. The objective of the consultation is...
Author - Stephen Wilson
Stephen Wilson
PSR provisionally identifies pre-paid card cartel
PSR has announced that it has issued a Statement of Objections that alleges that Mastercard, allpay, APS, PFS and Sulion engaged in anti-competitive behaviour by agreeing not to compete or poach each other’s clients...
ESMA fines Moody’s for conflict of interest breaches
ESMA has fined five entities in the Moody’s Group, based in France, Germany, Italy, Spain and the UK, a collective total of €3,703,000 and issued public notices for breaches of the Credit Ratings Agencies Regulation...
FCA and PRA publish operational resilience materials
FCA and PRA have each published a number of documents addressed to firms across a range of sectors on the subject of operational resilience. FCA and PRA have each issued policy statements (PS21/3 and PS6/21) which...
PRA issues policy statement entitled “Depositor protection: Identity verification”
The PRA has issued a policy statement entitled “Depositor protection: Identity verification” which provides feedback to consultation paper (CP) 3/21 on the same subject. The final policy set out in the...
CMA publishes annual plan for 2021/2022
Following consultation, the CMA has now published its annual plan for 2021-2022. The CMA has identified four key themes on which it intends to concentrate: protecting consumers and driving recovery during and after the...
European Parliament reports on Digital Finance Package legislation
The European Parliament’s Committee on Economic and Monetary Affairs has published a draft report setting out proposed changes to a range of existing legislation to ensure alignment with the regulation on digital...
IRSG publishes report promoting global regulatory coherence
The International Regulatory Strategy Group (“IRSG“) published a report entitled “Global Solutions to Global Problems”. The report aims to promote regulatory coherence in financial services to...
FCA gives speech on diversity and inclusion
Georgina Philippou, Senior Adviser to FCA on the Public Sector Equality Duty gave a speech at the launch of a report by the Investment Associate and Eversheds entitled “Building Ethnic Diversity and Inclusion in...
Complaints Commissioner criticises FCA internal communications
The Financial Services Complaints Commissioner has published a final report in respect of a complaint raised against FCA for failing to keep a complainant informed as to the progress of its investigation into the firm...
Government provides update on Australia free trade negotiations
The Department for International Trade published a press release with an update on the ongoing negotiation of a free trade agreement between the UK and Australia. The fourth round of talks took place between 22 February...
European Parliament issues draft report on proposed markets in crypto-assets regulation
The European Parliament’s Committee on Economic and Monetary Affairs has issued a draft report containing suggested amendments to the text of a regulation on markets in crypto-assets and amending Directive (EU)...
CMA consults on future oversight of open banking
The CMA has published a consultation paper seeking views on what arrangements it would be appropriate to put in place to ensure the effective oversight and governance of open banking following the implementation of the...
FCA increases contactless payment thresholds
FCA has published a policy statement outlining the amendments to Article 11 of the strong customer authentication RTS. The changes increase the single transaction threshold for contactless payments from £45 to £100 and...
FCA publishes funeral plan consultation paper
The FCA has published a consultation paper on its proposed approach to the regulation of pre-paid funeral plans. Such plans are due to become fully subject to FCA regulation from 29 July 2022. The majority of the...