The Standard Formula Podcast | Insurers in Difficulty: Staying Compliant Under Solvency II
Fintech Focus Podcast | Managing a Workforce in a Regulated Environment
Fintech Focus Podcast | Growing a Workforce in a Regulated Environment
The Standard Formula Podcast | Dissecting the Solvency Capital Requirement
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
Fintech Focus Podcast | Are Regulators Dictating Fintech Deal Terms?
The Standard Formula Podcast | Understanding the UK’s Matching Adjustment Regime
The Standard Formula Podcast | Group Supervision Under Solvency II
Fierce Competition Podcast | Letter From London: The Rise of UK Class Actions and the Competition Appeal Tribunal
The Standard Formula Podcast | Developments on the Horizon for the UK Change-in-Control Regulatory Regime
JONES DAY TALKS®: Class Actions Worldview Guide: Part 1–The United States and European Union
Season 2 Episode 5- Defense Trade Down Under
Cornerstone Research Connects: The CAT Judgment in Trucks
The Standard Formula Podcast | The Edinburgh Reforms: Big Bang 2.0 or Thoughtful Change?
Life with GDPR - The ABB Enforcement Action from a UK Perspective
Life with GDPR - Changes to UK Data Protection Regime
Life with GDPR - Clearview AI Fine by the ICO
The UK GDPR Children’s Code
Life with GDPR - Data Transfers from EU/UK to US
The Compliance Kitchen - UK’s Second Wave of Sanctions on Russia
With the new mandatory reimbursement requirements for Faster Payments and CHAPS now in force, we provide a quick reference guide to the key publications to date. As in-scope payment service providers (PSPs) move into the...more
Our UK Financial Services Group examine the UK’s new mandatory reimbursement rules that will require payment service providers (PSPs) to reimburse victims of scam transactions....more
For any UK fintech business involved with payments of electronic money (e-money) and any (experienced) investor in these businesses, safeguarding client funds is a key regulatory issue....more
The Payment Systems Regulator (PSR) has published a response to its December 2023 consultation (call for views) which set out initial proposals on how the PSR could support the expansion of Variable Recurring Payments (VRPs)...more
The U.K. Financial Conduct Authority had published a consultation on proposals to address weaknesses in the safeguarding regime for payments and e-money firms. The FCA explains that there remain poor practices across the...more
On 25 September, the U.K. Payment Systems Regulator confirmed that the maximum reimbursement limit for victims of Faster Payments Authorized Push Payment scams will be £85,000. The PSR began consulting on reducing the...more
After a short consultation period, the Payment Systems Regulator (PSR) has confirmed its decision to reduce the maximum level of reimbursement for the Faster Payments System (FPS) APP fraud mandatory reimbursement requirement...more
The FCA believes that there is a continuing problem with poor safeguarding practices across the industry due to poor implementation of the current regulatory framework under the Payment Services Regulations 2017 (PSRs) and...more
The Payment Systems Regulator (PSR) has published a policy statement and final Specific Direction to banks and other payment firms participating directly or indirectly in CHAPS (the UK’s high-value payment system) to...more
The Payment Systems Authority has published a consultation paper on a draft statement of policy on its cost benefit analysis (CBA) framework. The draft statement builds on and replaces the draft CBA framework published...more
The Payment Systems Regulator (PSR) has issued its final guidance to support payment service providers (PSPs) in assessing whether an APP scam claim raised by a consumer is not reimbursable under the new Faster Payments...more
Following feedback from industry and other stakeholders, the Payments Systems Regulator published a consultation paper on reducing the maximum level of reimbursement for the Faster Payments APP fraud reimbursement limit from...more
This new report sets out four thematic findings from the follow-up work the FCA has carried out, which are as follows: The FCA summarizes its expectations of payment account providers, including in respect of the Consumer...more
The U.K. Payment Systems Regulator has published a response to its call for views on proposals for the expansion of variable recurring payments. VRPs allow customers to safely connect authorised payment providers to their...more
The controversial new requirement for all in-scope Payment Service Providers (“PSPs”) to reimburse victims of Authorised Push Payment (“APP”) fraud are due to be introduced from 7 October 2024. This is a significant change...more
The Payment Systems Regulator (PSR) has published a policy statement (PS24/3) on compliance and monitoring under the Faster Payments System (FPS) APP fraud mandatory reimbursement requirement. The PSR has rowed back on some...more
Am 27. Mai 2024 hat die Bundesanstalt für Finanzdienstleistungsaufsicht („BaFin“) die finale Fassung des Rundschreibens über die Mindestanforderungen an das Risikomanagement von Zahlungsinstituten („ZAG-MaRisk“)...more
On 21 May 2024, the Payment Systems Regulator (PSR) published an interim report on its market review into card scheme fees and processing fees. The report focuses on the market position of Mastercard and Visa, with the PSR...more
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
In April 2024, the UK government reiterated its vision for open finance, with UK Economic Secretary Bim Afolami (MP) announcing the creation of the Open Finance Taskforce at the 2024 Innovate Finance Global Summit. The...more
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
HM Treasury has published a policy note and a draft statutory instrument—The Payment Services (Amendment) Regulations 2024—on a risk-based approach to payments to mitigate against authorized push payment fraud. HM Treasury...more
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
In July 2023, the UK government committed to changing the requirements on payment service providers (PSPs) when terminating payment service contracts. HM Treasury has now published draft regulations amending the Payment...more
In its 2023 Fraud Strategy, the UK government committed to looking at changes to allow payment service providers (PSPs) more time to investigate suspicious payments to help tackle authorised push payment (APP) fraud. HM...more