Rebecca Hickman

1 week ago | mondaq.com | Grace B.A. Wyatt |Rebecca Hickman |Tom Rhodes |Edward Warmington

The UK's Payments landscape hasadvanced substantially in recent years. There are several in-flightplans and initiatives across the payments sector, and with therecently published National Payments Vision (NPV) the UK Governmenthas made it clear that they will take any necessary steps toenhance the UK's payments sector to support economic growth.

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.

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

On 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. This report follows an initial review from September 2023, which explored access issues for both individuals and businesses. The recent findings highlight further themes and, in the paper, the FCA also sets out its proposed next steps to address the harms identified in relation to account access.

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.