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The UK Government announced the disbandment of the Payment Systems Regulator

14 March 2025

The UK Government announced the disbandment of the Payment Systems Regulator

The UK Government announced the disbandment of the Payment Systems Regulator (PSR).

 

➡️ The change comes as the UK Government focuses on streamlining regulation to boost economic growth more widely.

➡️ The PSR will be integrated within the Financial Conduct Authority (FCA), making the regulator a single port of call for firms’ regulatory obligations.

➡️ The announcement does not immediately alter the scope of supervision or ongoing work of the PSR; with any changes only taking effect after legislation is enacted by the UK Parliament.

✅ In the absence of immediate changes to the regulatory requirements applicable to them, Firms regulated by the PSR should not take this action as a relaxation of those requirements. They should review their processes and reporting requirements to ensure continued compliance, preparing to adapt as the UK regulatory landscape continues to evolve.