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UK regulators' review of memorandum of understanding on payments published

( June 24, 2025, 10:32 GMT | Official Statement) -- MLex Summary: UK regulators have published an updated version of their Memorandum of Understanding in relation to payments. The Bank of England, Prudential Regulation Authority, Financial Conduct Authority, and Payment Systems Regulator have agreed on a new version, as the Financial Services (Banking Reform) Act 2013 requires the authorities to review the MoU annually. In March 2025, the government announced its intention to consolidate the PSR into the FCA. However, there are no immediate changes to the PSR's ongoing work program and the MoU reflects the PSR's current responsibilities.The MoU is attached....

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