The FCA has today published its long awaited policy statement and approach document on the implementation of PSD2.
The Policy Statement confirms changes to the Handbook and Approach Document guidance, and new non-Handbook directions for excluded firms, to reflect PSD2 and the PSRs 2017. This follows the two consultations the FCA issued in April (CP17/11) and July (CP17/22). FCA has made some amendments to its approach following feedback to these consultations.
FCA is also publishing the Payment Services and Electronic Money: Approach Document, having consulted on this in CP17/11 and CP17/22. This Approach Document is designed to help firms navigate the payment services and e-money regulatory requirements. It replaces the existing Payment Services and E-Money Approach Documents.