We are seeking views on existing guidance we provide to assist firms in complying with their legal requirements under the current payment services regime.
This includes the Payment Services Approach Document[1] and the Perimeter Guidance Manua[2]l (PERG 15) published in 2009.
Why are we publishing this paper?
The Revised Payment Services Directive[3] comes into force in the UK in January 2018 and brings about changes to the way we regulate payment services. These changes will need to be reflected in the guidance we provide to firms.
Before we begin to update our guidance, we are seeking views on whether the current documents have kept pace with market developments and growth in payment services, so that we can take this into account when we update them.
Call for Input: the FCA’s approach to the current payment services regime[4] [PDF]
Who should read this paper?
We welcome views from anyone interested or affected by the regulatory regime for payment services. This includes payment service providers (PSPs) such as banks, building societies, money remitters, credit card issuers and merchant acquirers; and also individuals, businesses or organisations that use payment services; or those that represent PSPs or users.
This Call for Input will be of particular interest to those who are authorised and regulated by us for payment and e-money services and others who refer to the guidance we provide.
How to respond
Please use our online form[5] to submit responses by 23 March 2016. If you are not able to use the online form, either send an email with the subject title ‘Call for Input: the FCA’s approach to the current payment services regime’ or write to the address below.
Banking and Payments Policy
Strategy & Competition Division
Financial Conduct Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Find out more about the payment services regime
See the payment services firms[6] section of our website.