Payment services providers (PSPs), including payments institutions (PIs) and e-money institutions (EMIs) continue to develop quickly. In addition to their payments services approach document, the FCA closed a short consultation in June as to whether they should provide further guidance on safeguarding, managing prudential risk and wind-down plans. This was as a result of findings that some firms have not implemented the Electronic Money Regulations 2011 or Payment Services Regulations 2017 in line with their expectations.
Neil Winkworth - 27 Okt