Business and Other Briefings

HM Treasury: Economic Secretary and City Minister Kitty Ussher has announced that the Financial Services Authority will be the UK regulator for the provision of payment services, established by the Payment Services Directive.
Currently, cross-border competition in payments is hampered by differing national standards and the Directive creates a harmonised legal framework for payment services such as direct debits, card payments, and remittances.
The details of implementing the provisions of the Payment Services Directive into UK law are now being considered, and the Treasury will publish a consultation document on implementation later this year.
Press release ~ Kitty Ussher's speech ~ Financial Services Authority ~ HM Treasury: Payment Services Directive ~ European Commission - Payment Services Directive (PSD) ~ Money Laundering Regulations 2007 ~ Financial challenge to crime and terrorism
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