fscom News and Events

Complaints handling - what does good look like?

[fa icon='calendar'] 29-Aug-2018 16:30:49 / by Rachel Stevenson posted in Complaints, PSD2, FCA, Compliance

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Brexit: All roads lead to...Paris?!

[fa icon='calendar'] 28-Aug-2018 14:45:59 / by James Borley posted in BREXIT, Payment services, Compliance, FCA, E-money, PSD2

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Open Banking; not just for banks

[fa icon='calendar'] 17-Aug-2018 12:32:15 / by Alison Donnelly posted in Payment services, E-money, PSD2

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How is your business preparing for Open Banking? According to a HM Treasury paper published earlier this month, Open Banking ha s the potential to ‘boost UK GDP by more than £1 billion annually.’ The Paper heralds the advantages of openness and data sharing generally across sectors of the economy and discusses the government’s strategy to ‘put the UK at the forefront of the AI and data revolution.’ And indeed, the free flow of data has key advantages in terms of data analytics and personalising the sale of goods and services to customers.
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“Mirror, Mirror on the wall, who is the fairest (regulator) of them all?”

[fa icon='calendar'] 06-Aug-2018 11:53:11 / by James Borley posted in FINTECH, BREXIT, Payment services, E-money, PSD2

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For some, Brexit may still seem like something out of a fairy tale but, whether you are for or against, it will become a reality next March 2019.

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ESMA's temporary product intervention decisions: NDFs

[fa icon='calendar'] 03-Aug-2018 15:54:59 / by Rachel Stevenson posted in MIFID II, ESMA, Investment firms, FCA, BREXIT, NDFs

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The implementation of MiFID II in January triggered a significant change in the blanket treatment of FX forwards in the UK and, as a result, non-deliverable forwards (NDFs) became regulated products and overnight were reclassified as contracts for difference (CFDs). Any FX brokers that wished to continue offering NDFs were forced to apply to the FCA to obtain the relevant investment firm regulatory permissions in order to continue providing the same range of FX products they had always offered their clients.

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Request for data deletion:  is it for legitimate reasons?

[fa icon='calendar'] 27-Jul-2018 12:48:46 / by Stephen Watkins posted in GDPR, aml, Payment services, Compliance

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At what point does empowering individuals to be ‘masters of their own personal data destiny’ encroach on a payment service provider's legal responsibility to prevent fraud, safeguard its venture and limit criminal activity?

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What the FCA really wants from e-money and payment institutions

[fa icon='calendar'] 11-Jun-2018 17:00:00 / by Alison Donnelly posted in Payment services, FCA, E-money

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With the vast majority of e-money and payment institutions successfully re-authorised, let’s take a look at how the FCA intends to monitor this growing population of firms.

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Got a complaint about a payment service?

[fa icon='calendar'] 08-Jun-2018 11:35:10 / by Rachel Stevenson posted in Payment services, Compliance, PSD2, E-money, FCA

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With all the excitement around re-authorisation, the ban on credit card surcharges and the new payment services activities, the less headline grabbing regulatory changes introduced by the second payment services directive (PSD2) have been somewhat overlooked. One of these changes relates to complaint handling.

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Alison Donnelly Scoops Top AML and Payments Services Awards

[fa icon='calendar'] 31-May-2018 10:44:01 / by fscom Team posted in Payment services, aml

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We are delighted to announce that Alison Donnelly, Director and Head of Advisory at fscom, has recently been awarded not only one, but two top industry awards.

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Introducing the New Payment Systems Operator

[fa icon='calendar'] 23-May-2018 16:24:01 / by Alison Donnelly posted in Payment services, E-money, FINTECH

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In a previous blog post, I took a look at the upcoming access changes to the UK’s RTGS system (the Clearing House Automated Payment System) and, in the blog post before that, the UK’s new payment architecture. In the latter, you might remember, we touched on the consolidation of three separate payment service operators (PSOs) – Bacs, Faster Payments Service and the Cheque & Credit Clearing Company – under a New Payments Service Operator (NPSO).

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