PSD2 - one month to the cut-off

After the implementation of the revised Payment Services Directive (PSD2), all authorised payment institutions, authorised e-money institutions and small e-money institutions were required to apply for re-authorisation or re-registration by 13 April 2018 in order to continue providing payment and e-money services after 13 July.

With one month to go before the cut-off, those firms that have not yet submitted the required information to the FCA or have only made a late submission, will no longer be able to trade using their previous permissions from 13 July until the FCA has granted the re-authorisation.

If you have missed the deadline and intend to keep trading as an API or EMI, we will be able to help you prepare a complete application pack which meets the regulator’s expectations and submit it at the earliest possible opportunity.

If your application is already being reviewed by the FCA, we can provide support with answering any questions raised during the assessment process, and help you provide any additional information or documentation required to demonstrate that your firm is PSD2-ready.

To discuss PSD2 further or to seek support from our experts, please contact our Regulatory Consulting Team

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