12/10/2024 11:04:58 AM FCA outlines Consumer Duty focus areas for 2024/25 By Sara Cody In response to industry feedback that it would be useful to have all Consumer Duty areas of focus listed together, the FCA has published...
2/12/2025 9:45:42 PM AI know it when AI see it: EU tries to clear up what an AI system is By Raza Naeem Simon Treacy The European Commission has issued guidance on what systems are artificial intelligence under the EU’s AI Act. Understanding the scope of...
2/12/2025 6:25:42 PM It’s complicated: The EU’s on-again off-again relationship with open finance By Simon Treacy Two years ago the European Commission proposed regulating how financial data is shared within the EU. Earlier this week reports suggested...
2/7/2025 9:30:10 AM House of Lords boxes in FCA over investigations transparency proposals By Duncan Campbell The saga continues. After the FCA made its initial proposals to publicise ongoing investigations, uproar ensued. The FCA watered them...
2/3/2025 3:51:41 PM FCA tells payments firms to improve governance standards By Harry Eddis Richard Hay Frances Hodgkins Olivia Murphy Arjun Lakhani Sam Quicke Fiona Garrahan Simon Treacy +5 more... Show less Weaknesses in governance, oversight and leadership are a root cause of many regulatory issues. This is the message from the Financial...
1/31/2025 1:28:20 PM Commission rejects DORA subcontracting rules By Raza Naeem James Morris Simon Treacy The European Commission has formally rejected draft rules on monitoring ICT supply chains under the Digital Operational Resilience Act....
1/30/2025 11:48:49 AM The EU AI Act: What is it and what do payments firms need to know? By Olivia Murphy The EU AI Act is a regulation which applies directly in every Member State and seeks to impose requirements on the supply and use of AI...
1/29/2025 3:19:28 PM FCA issues first fine for breach of MiFIR transaction reporting requirements By Karen Cooper Stephen Clipsham The Financial Conduct Authority (FCA) has fined Infinox Capital Limited £99,200 for failing to submit 46,053 transaction reports which...
1/27/2025 10:04:52 AM ScottishPower wins on non-penalties after extra time: Court of Appeal clarifies the tax-deductibility of consumer redress payments By Rory Conway Sam Lintonbon Clare McMullen In ScottishPower (SCPL) Limited & Ors v The Commissioners for His Majesty’s Revenue and Customs [2025] EWCA Civ 3, the Court considered...
1/24/2025 2:22:17 PM EBA guidance on acquiring payments transactions and whether electronic money institutions can apply negative interest By Olivia Murphy In our previous post we covered two new and important pieces of guidance from the European Banking Authority. In this post we cover two...
1/23/2025 10:32:24 AM EU shares key guidance on DORA By Raza Naeem James Morris Simon Treacy Can a financial service be an ICT service? This question often came up in the course of implementing the EU’s Digital Operational...
1/22/2025 3:00:35 PM The EBA's latest PSD2 guidance and its impact for payments firms By Olivia Murphy The European Banking Authority has released a new batch of Q&A responses covering a range of PSD2 topics. In this post we cover the...
1/17/2025 5:33:18 PM Payments in 2025 #5 – AI in payments By Harry Eddis Richard Hay Frances Hodgkins Olivia Murphy Arjun Lakhani Fiona Garrahan +3 more... Show less The payments industry has a strong track record of using AI to help spot and stop fraud. Now, as they explore other opportunities to...
1/16/2025 8:55:11 PM DORA deadline day arrives: Here are five things firms still need to do By Raza Naeem James Morris Simon Treacy Even as the EU’s Digital Operational Resilience Act comes into effect, more work remains to be done. After a two-year implementation...
1/16/2025 4:47:19 PM Payments in 2025 #4 – Future of retail payments By Harry Eddis Richard Hay Frances Hodgkins Olivia Murphy Arjun Lakhani Fiona Garrahan +3 more... Show less Policymakers in the EU and UK are, for now, allowing a diverse landscape of payment options to co-exist and compete. Instant payments The...
1/15/2025 4:25:23 PM Payments in 2025 #3 – Payment services By Harry Eddis Richard Hay Frances Hodgkins Olivia Murphy Arjun Lakhani Fiona Garrahan +3 more... Show less More regulatory change is on the horizon for payment services. The detail of key reforms to EU and UK payment services legislation will...
1/14/2025 12:22:39 PM Payments in 2025 #2 – Safeguarding By Harry Eddis Richard Hay Frances Hodgkins Olivia Murphy Arjun Lakhani Fiona Garrahan +3 more... Show less Later this year the Financial Conduct Authority will determine its approach to changing the safeguarding regime for payments firms....