UK:
Launch Of New UK Payments System Regulator
30 March 2015
Shearman & Sterling LLP
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On March 13, 2015, the FCA published a press release relating to
its November 2014 consultation paper on the Payment Systems
Regulator, which is the new UK regulator that will regulate the
largest UK payment systems. The press release states that any of
the directions mentioned in the consultation that were to come into
force on April 1, 2015 will not come into force until April 30,
2015. This is so that stakeholders have more time to consider the
FCA's final directions and views that are to be published in
the FCA's PSR policy statement before the end of March
2015.
The FCA press release is available at: http://www.fca.org.uk/news/psr/psr-directions.
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