Rasheda Rahman

Oct 1, 2024 | lexology.com | Rebecca Hickman |Isabel Lu |Rasheda Rahman

In this edition we discuss a follow-up report from the Financial Conduct Authority (FCA) on its review of the UK Payment Accounts Access and Closures. This issue also covers recent updates from the regulators on Authorised Push Payment fraud. FCA follow-up Report: UK Payment Accounts Access and ClosuresOn 4 September 2024, the Financial Conduct Authority (FCA) published a report detailing the outcomes of its subsequent examination into the accessibility and closure of UK payment accounts.

Oct 1, 2024 | lexology.com | Rebecca Hickman |Rasheda Rahman

This edition contains an update on recent developments in the space of Authorised Push Payment (APP) fraud. These include recent papers from the Payment Systems Regulator (PSR) on its decision to reduce the maximum reimbursement level that it had originally set for APP fraud and its final policy on CHAPS APP scam reimbursement requirement.

Aug 7, 2024 | lexology.com | Rebecca Hickman |Rasheda Rahman

On 16 July 2024, the Financial Stability Board (FSB) published two consultation reports on proposed recommendations related to data flows, and regulation and supervision, in cross-border payments. The recommendations encourage jurisdictions globally to identify actions and best practices that would help to foster a more efficient cross-border transfer of payments-related data while respecting public policy objectives around data protection by the payments industry.

Aug 7, 2024 | lexology.com | Rebecca Hickman |Isabel Lu |Rasheda Rahman

In this edition we discuss the recent announcement of a new Digital Information and Smart Data Bill in the King's speech delivered at the state opening of Parliament in July, an update on the Payment Systems Regulator's (PSR) policy statement on compliance and monitoring of authorised push payment scams reimbursement requirement and further recommendations from the Financial Stability Board on the regulation and supervision of cross-border payments.

Aug 7, 2024 | lexology.com | Rebecca Hickman |Rasheda Rahman

On 17 July 2024, the King's Speech was delivered to Parliament, setting out the government's legislative programme. Included was a newly proposed Digital Information and Smart Data Bill (DISD Bill). This will partially replace the previously discontinued Data Protection and Digital Information Bill (DPDI Bill), In this section we discuss the proposals to enable smart data using the DISD Bill and other key aspects it will cover, as introduced in the King's speech.