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UK payments regulator backs 'pragmatic' swallowing by financial markets watchdog

( March 11, 2025, 22:32 GMT | Official Statement) -- MLex Summary: The UK’s payments watchdog has described the announcement tonight that it will be abolished and folded into the Financial Conduct Authority as “a pragmatic next step in simplifying and clarifying payments regulation.” The Payment Systems Regulator promised to work with the FCA and the Bank of England to ensure that the transfer of regulatory responsibilities is smooth. The FCA’s chief executive Nikhil Rathi said: “Now is the right time to put in place a more streamlined regulatory framework.” Statements below...

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