FCA consults on SCA post-Brexit

FCA is consulting on how it proposes to make technical standards which are substantially the same as the PSD2 SCA RTS to ensure strong customer authentication and common and secure open standards of communication post-Brexit.

FCA comments that some of the SCA-RTS take effect from 14 March 2019 and others not until 14 September. In the event of a no-deal Brexit this means the RTS will be only partially converted into UK law and would put consumer protection for payments at risk.

FCA invites comments by 19 February on its proposals for making RTS that are substantially the same as the EU ones, to apply in the event of a no-deal Brexit.