In the first 6 months of 2019 we carried out a multi-firm review with 11 non-bank payment service providers (PSPs) to assess how well they meet the requirements for safeguarding service users’ funds in the Payment Services Regulations 2017 (PSRs) and Electronic Money Regulations 2011 (EMRs) (the Regulations). These are our key findings.
The FCA measures its performance using service standards. These are the levels of performance that it aims to meet when carrying out its regulatory functions. This service standards analysis is for 2018/19.