Following the making of the Payment Accounts Regulations 2015 (PARs), we are consulting on proposed changes to our Handbook. We are also proposing to issue guidance aimed at assisting payment service providers with the implementation of the PARs.
The Payment Accounts Directive (PAD) has been implemented in the UK by means of the Payment Accounts Regulations (PARs), which were made in December 2015. The provisions on switching, payment accounts with basic features, and packaged accounts take effect on 18 September 2016.
The PARs require some changes to be made to our Handbook before this date, and we are now seeking stakeholders’ views on the proposed amendments. We are also consulting on proposed non-Handbook guidance to assist payment service providers with the implementation of certain aspects of the PARs.
We propose to:
The consultation will primarily be of interest to:
It may also be of interest to organisations representing the interests of consumers.
We will consider your feedback and publish our final Handbook changes and finalised guidance as soon as possible before the implementation deadline of 18 September 2016.
Copyright © 2016 FCA. All Rights Reserved.