Payment services


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    HMT has announced that it intends to proceed with its new Senior Managers & Certification Regime (SM&CR) for financial market infrastructures (FMIs). The new regime will be similar to the SM&CR for other regulated financial services firms, and will introduce a new era of personal responsibility for individuals within FMIs. ...

  • spotlight

    On 22 July 2021, HM Treasury published a consultation paper covering various proposed amendments to the UK’s anti-money laundering (AML) framework, including the potential removal of account information services (AIS) from the scope of the Money Laundering Regulations (MLRs). HM Treasury is also inviting feedback on the potential money laundering ...

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    The Financial Conduct Authority (“FCA”) published Consultation Paper CP21/3 (the “Consultation Paper”) on 28 January 2021 proposing: amendments to the technical standards on strong customer authentication (“SCA”) and common and secure methods of communication (the “SCA-RTS”); updates to its published guidance in its Approach Document on Payment Services and Electronic ...

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    The FCA has released its finalised guidance (the “Guidance”) for payment institutions’ (“PIs”) and electronic money institutions’ (“EMIs”) (together known as “Payment Firms”) in the context of Coronavirus. The Guidance follows on from proposals published by the FCA on 22 May 2020 (the “Proposals”) (see our summary here). The Guidance ...

  • cryptocurrency

    On 30 June 2020, the FCA published a research note on cryptoasset consumers which forms part of the FCA’s work alongside the Government and the Bank of England (“BoE”) to understand market size, consumer profiles and attitudes towards cryptoassets[1]. The three institutions had previously, in October 2018, published a joint ...

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