Bank of England speech on payments trends and cryptoassets following Covid-19

Following Covid-19, the message from the UK financial regulators regarding payments firms and payments innovation has stepped up. Recently, the Bank of England published a speech given by Christina Segal-Knowles (Executive Director, Financial Market Infrastructure Directorate) on 11 June in which she discussed the emerging themes and challenges for payments firms and payments innovation. Read more

Will CBDCs be the public sector response to GSCs in the UK and EU?

As consumers use cash to make payments less frequently, and fintech firms offer new forms of money and new ways to make payments, central banks globally are considering how they should respond and whether they too should innovate to meet new payment needs in an increasingly digital economy. Read more

FCA consultation on proposed guidance for payments firms: COVID-19 and safeguarding customer funds

After highlighting payment services as a priority in its 2020/21 business plan and following “evidence that some firms have not implemented the Electronic Money Regulations 2011 or Payment Services Regulations 2017 as [the FCA] expects”, the FCA has published a short consultation proposing further guidance for Payment Services Providers (PSPs), including Payment Institutions (PIs) and … Read more

FINTECH REGULATION – WHAT’S COMING UP?

Fintech is a rapidly developing area where developments in the regulatory regime are ongoing. We have created a timeline of key UK and European regulatory milestones to watch out for over the coming months and years. Read more

COVID-19: Pressure Points: Impact on UK criminal investigations & justice system

COVID-19 and the related lockdown restrictions are placing the UK criminal justice system under considerable pressure. In this briefing we discuss a number of COVID-19 related measures impacting the investigation and prosecution of economic crime, and the criminal justice system more broadly.  We also touch on fraud risks and financial crime compliance considerations arising from the COVID-19 pandemic, which we will discuss more fully in a future briefing. Read more