UK Conduct Regulator Publishes Directions For E-Money and Payment Services Temporary Permissions Regime

The U.K. Financial Conduct Authority has published two Directions under the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, specifying how and when firms subject to the Regulations should make Temporary Permissions Notifications. The Regulations set out how firms that are entitled to provide e-money or payment services immediately before the U.K.’s exit from the EU may continue to provide those services for a specified period after exit day. Firms must notify the FCA of their desire to make use of this temporary permission regime in accordance with the FCA’s Directions.

View the FCA's Direction on notifications for e-money institutions under the Regulations.

View the FCA's Direction on Notifications for payment services institutions under the Regulations.

View details of the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018.

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