The following Financial Services guidance note provides comprehensive and up to date legal information covering:
This and payment services and electronic money directives quick guide details current UK legislation and retained EU legislation and Financial Conduct Authority (FCA) rules and guidance in relation to payment services and electronic money requirements that will be amended by the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 statutory instrument, SI 2018/1201 and the Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019, SI 2019/1212 (together the E-Money and Payments Regulations) and other instruments at the end of the implementation period following the UK’s withdrawal from the EU, as well as corresponding changes to Financial Conduct Authority (FCA) rules and guidance to payment services and electronic money requirements.
The below summary sets out Brexit preparations and contingency plans in relation to onshoring EU rules for e-commerce financial services providers after Brexit.
The E-Money and Payments Exit Regulations are part of HM Treasury’s programme of statutory instruments under the European Union (Withdrawal) Act 2018 (EU(W)A 2018) dealing with contingency preparations for a ‘no deal’ Brexit. The E-Money and Payments Regulations form part of the process of domesticating EU law to ensure legal continuity at the point of the UK’s exit from the EU. EU(W)A 2018 ‘onshores’ and preserves most EU and EU-derived law as
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.