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On 28 January 2021, the FCA published a consultation (CP21/3) on the proposed changes to its onshored Technical Standards on Strong Customer Authentication and Common and Secure Methods...
To embed, copy and paste the code into your website or blog: Recent regulatory developments focussed on the payments sector. See also our General Regulatory News of broad relevance in the Related Materials links. Contents APP scams: LSB publishes CRM Code review roadmap Contactless payments: FCA PS21/2 on amendments to single and cumulative transaction thresholds Following its consultation in CP21/3, the UK Financial Conduct Authority (FCA) has published a policy statement, PS21/2, on amendments to the single and cumulative transaction thresholds for contactless payments. The FCA summarises t...
On 28 January 2021, the Financial Conduct Authority (FCA) published a consultation paper (CP21/3) 1 proposing various changes to the UK regulation of payment services and electronic money. Most of the proposed changes relate to clarification or expansion of the existing FCA guidance contained in the document “Payment Services and Electronic Money – Our Approach” (Approach Document). There are also proposed changes to the substantive regulatory requirements. The consultation closes on 24 February 2021 in respect of the proposed changes to the contactless payment limits (see below); it c...