fscom News and Events

REP018, Open Banking and the InfoSec Challenges facing the Payments Industry

[fa icon='calendar'] 10-Sep-2018 09:55:00 / by Alison Donnelly posted in PSD2, E-money, Compliance, Payment services, GDPR

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Brexit: Out of the EU...back to Brussels?

[fa icon='calendar'] 06-Sep-2018 20:49:56 / by James Borley posted in PSD2, E-money, FCA, Payment services, BREXIT

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Following my well-received blog about the ACPR’s approach to UK payment/e-money institutions applying for authorisation in France as part of their Brexit strategy, it was almost obvious that I should follow this up with consideration of near-neighbours Belgium. 

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Complaints handling - what does good look like?

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

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

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

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Open Banking; not just for banks

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

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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 PSD2, E-money, Payment services, FINTECH, BREXIT

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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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Got a complaint about a payment service?

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

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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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How Will PSD2 Affect Charities - The Forgotten Sector

[fa icon='calendar'] 20-Apr-2018 14:35:58 / by fscom Team posted in PSD2, Compliance

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There has been a lot of talk in the financial sector surrounding the topic of PSD2; flagging deadlines, the implications of non-compliance and the opportunities open banking presents. But what about the other industries affected by the new regulation? From the charities and even the accountancy firms that now fall under the FCA’s watchful eye? Have they been forgotten about amid the vicissitudes?

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Inside the Regulator: PSD2 Deadline Day

[fa icon='calendar'] 13-Apr-2018 08:26:20 / by James Borley posted in Compliance Assurance, fscom News, PSD2, E-money, FCA, Compliance, Payment services

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The third in my trilogy of PSD2 blogs from ‘Inside the Regulator’. However, as we are now entering uncertain and uncharted territory, in terms of firms that failed to submit applications for re-authorisation in time, my insights are more presumptive than previously.  

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PSD2 - further inside the regulator

[fa icon='calendar'] 19-Mar-2018 17:40:38 / by James Borley posted in PSD2, E-money, FCA, Payment services, FINTECH, cryptocurrency

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Drawing on my experience of heading up the Payment Services Authorisations Team at the FCA for many years, I spoke last week (http://blog.fscom.co.uk/psd2-a-glimpse-inside-the-regulator) about the FCA’s expectations for authorisations and re-authorisations, and offered some insight into how they might approach the challenges brought about by PSD2. I now explore the risks inherent in firms wishing to ‘upgrade’ their licences, the new entrants under PSD2 and the FCA’s approach to supervision.

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