News & Analysis as of

United Kingdom Payment Systems Banks

Eversheds Sutherland (US) LLP

Payment matters - October 2024

Upcoming global developments for the payment sector - Asia - 1. Hong Kong: Launch of Phase 2 of the e-Hong Kong Dollar Pilot Programme - On September 23, 2024, the Hong Kong Monetary Authority (HKMA) announced the...more

Hogan Lovells

Hogan Lovells PSD3 Impacts Report: Getting ahead of the evolving EU payments regulatory landscape

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Given the sea change of payment services directive 2015/2366 (“PSD2”), one might expect the prospect of the proposed PSD3 and PSR to have psps groaning at the thought of yet more root and branch reg change projects. However,...more

Hogan Lovells

APP fraud: UK PSR consults on CHAPS mandatory reimbursement requirement

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The Payment Systems Regulator (PSR) is consulting on a proposal to direct banks and other payment firms participating directly or indirectly in CHAPS (the UK’s high-value payment system) to reimburse their customers who have...more

A&O Shearman

UK Proposes Design of the Future Entity for UK Open Banking

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On April 19, 2024, the U.K.'s Joint Regulatory Oversight Committee published proposals on the design of the future entity for UK Open Banking. The JROC is composed of the Financial Conduct Authority, the Payment Systems...more

A&O Shearman

New UK Requirements for Payment Account Contract Terminations

A&O Shearman on

HM Treasury has published a policy note and a draft statutory instrument—The Payment Services and Payment Accounts (Contract Terminations) (Amendment) Regulations 2024—on strengthening requirements in the Payment Services...more

Skadden, Arps, Slate, Meagher & Flom LLP

New Rules To Tackle Authorised Push Payment Fraud

Authorised push payment (APP) fraud in the UK is the largest type of payment fraud, both in number of scams and value of losses. It involves a fraudster convincing someone to send a payment to a bank account that the...more

A&O Shearman

UK Prudential Regulator Sets Out Expectations for Banks Innovating in Digital Money

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The U.K. Prudential Regulation Authority has published a Dear CEO letter, addressed to CEOs of banks, setting out its expectations of banks (deposit-takers) regarding the risks that arise from innovations in digital money and...more

A&O Shearman

Allen & Overy and Standard Chartered launch guide to payment regulations in Asia

A&O Shearman on

Allen & Overy and international banking group Standard Chartered have today launched the first Guide to Payment Regulations for corporates and fintech customers navigating the evolving payments landscape in eight key markets...more

A&O Shearman

UK Regulators Propose Requirements for Critical Third Parties' Services to UK Regulated Firms

A&O Shearman on

The Bank of England, Prudential Regulation Authority and Financial Conduct Authority (together, the supervisory authorities) have published a discussion paper proposing measures to supervise and enhance the resilience of...more

A&O Shearman

Allen & Overy's weekly update on Key Regulatory Topics - 8 June 2018 – 14 June 2018

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BREXIT - Please see the Payment Systems and Payment Services section for an update on the HoC’s European Scrutiny Committee thirtieth report of the 2017-19 parliamentary session....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Uber’s got more than a spot of bother on its hands in London after this morning’s announcement that the company’s largest market in Europe won’t renew the ride-hailing service’s license to operate in the city (citing “a lack...more

Proskauer Rose LLP

Regulation Round Up - February 2017

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The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more

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