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Open Banking after Brexit: CP21/3

[fa icon='calendar'] 30-Mar-2021 12:35:51 / by Colin Sloan posted in FCA, Payments sector, E-money sector, open banking

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The FCA has proposed new guidance on Open Banking, charting its first course of regulatory divergence in the area after Brexit.[1] As detailed below, among other things, the FCA is proposing to make dedicated interfaces mandatory for many payment account providers (ASPSPs).[2]

 

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Operational and security risk reporting (REP018) and IT audits

[fa icon='calendar'] 17-Nov-2019 13:56:03 / by Alison Donnelly posted in SCA, open banking, Cybersecurity

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Around this time last year we published a blog on REP018, discussing the reporting obligation and who had to submit. Just to recap, REP018 is the name the FCA has given to the reporting return for the operational and security risk assessment that all payment service providers (PSPs) must submit to their regulator at least once a year, or more often as the regulator directs. Most other regulators, including the Central Bank of Ireland, simply refer to the return as the ‘operational and security risk assessment.’

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