At FCA’s May Board Meeting it made 3 new sets of rules:
- the Covid-19 Premium Finance Instrument, which took effect from 18 May and introduced the new requirements on payment deferrals and other measures for insurers and premium finance firms;
- the Payment Services Regulations 2017 (Payment Account) Instrument 2020 takes effect from 22 May and amends PERG to ensure FCA’s guidance on payment accounts is consistent with an EU judgement on what a PSD2 payment account is ; and
- the Supervision Manual (Reporting No 14) Instrument 2020 also takes effect from 22 May and amends the firms details form in SUP 15 to align it with the relevant Connect form.