The Payment Systems Regulator (PSR) has decided to revoke Specific Directions 4 and 4a, which required LINK to competitively procure central infrastructure services beyond 2031. This decision follows Consultation Paper CP25/2 and reflects changes in market conditions. The PSR concluded that mandatory tendering is no longer the most effective way to address competition concerns. The move also provides regulatory clarity for LINK and its members, allowing them to focus on long-term sustainability and innovation in the UK’s ATM network. The revocation takes effect on 25 August 2025.

The Payment Systems Regulator (PSR) has published an updated version of its Powers and Procedures Guidance to reflect recent developments in its processes and structure.

The Treasury Sub-Committee on Financial Services Regulations has published a progress update from the Payment Systems Regulator (PSR) on the implementation of measures to introduce better incentives for payment service providers (PSPs) to prevent authorised push payment (APP) scams.

The Payment Systems Regulator (PSR) has published the outcome of its consultation on proposals to revise Specific Directions 14, 15 and 16 which were the remedies introduced in 2022 following the PSR’s card acquiring market review (CAMR). The PSR’s policy statement (PS24/1) updates the list of directed firms and introduces a new streamlined method of making changes going forward.

The Payment Systems Regulator (PSR) has published an update on its new authorised push payment (APP) scams reimbursement requirement, delivered by its managing director, David Geale. Since the policy took effect on 7 October 2024, the PSR states that approximately 86% of funds lost to APP scams—amounting to around £27m—have been reimbursed to victims in the first three months. The update notes that both sending and receiving firms now share the cost of claims, with most being reported within two business hours and resolved within five business days. Despite initial concerns regarding a potential surge in claims or changes in consumer behaviour, the data is said to show stable claim volumes and minimal rejections based on consumer standard of caution. The PSR plans to continue to monitor the policy’s performance in collaboration with the Financial Conduct Authority (FCA) and industry stakeholders, and an independent review of its effectiveness is scheduled to commence in October 2025.

The Payment Systems Regulator (PSR) has updated the timeline for its consultation on claims management for authorised push payment (APP) scams, initially set for April 2025, by three to six months. This delay aligns with the government's National Payments Vision (NPV) and the review of Pay.UK. The PSR plans to adopt Reporting Standard B by December 2026, which requires payment service providers (PSPs) to use systems capable of processing comprehensive compliance data. While Pay.UK's reimbursement claims management system (RCMS) is recommended for managing APP scams claims and data reporting, PSPs are not mandated to use it. The extended timeline allows for collaboration between Pay.UK and industry stakeholders on system design and delivery. The consultation will focus on setting a deadline for Reporting Standard B adoption and considering additional regulatory obligations for Pay.UK, without mandating specific systems for PSPs. In the interim, Pay.UK will monitor compliance with Faster Payments Scheme (FPS) reimbursement rules, and the PSR will use Reporting Standard A data for legal compliance monitoring. Stakeholders are encouraged to engage with both the PSR and Pay.UK.

The Payment Systems Regulator (PSR) has set out its updated strategy for the next two years following a mid-term review of its five-year strategy launched in 2022. The PSR aims to support a competitive and innovative payments sector in the UK by focusing on three core commitments: completing ongoing work to protect consumers and support competition, driving forward upgrades to the faster payments system and reforming , and sharpening its focus on competition and innovation in payment systems.

The Payment Systems Regulator (PSR) has published a speech delivered by managing director Chris Hemsley at the Payments Regulation and Innovation Summit 2024, in which he discussed upcoming developments including a ‘fundamental shift’ in how the PSR tackles authorised push payment (APP) fraud; new opportunities for payments to take place using Open Banking; and publication of the PSR’s conclusions on its two reviews into card fees. The new framework for the Financial Conduct Authority (FCA) to oversee cash access will also take full effect.

Plutonium Uranium Redox Extraction: A solvent extraction process, and the reprocessing process used in THORP and other reprocessing plants to separate out uranium and plutonium from highly active fission products when spent nuclear fuel is recycled.

Pressurised Water Reactor: A reactor whose primary coolant is maintained under such a pressure that no bulk boiling occurs. The reactor uses light water as a moderator and as a coolant. In the UK, Sizewell B is one such reactor operated by EDF Energy Nuclear Generation Limited (formally British Energy).

Pabla & Pabla Solicitors has published a report revealing a significant rise in housing disrepair claims across England and Wales. Based on responses from 81 councils and housing associations, the findings show that claims have increased by 392.02% over the past five years, while legal costs have grown by 427.72% during the same period. In total, 40 councils and housing associations spent over £2.5bn on maintaining deteriorating housing stock. The report notes that the growing volume of claims is placing pressure on budgets and limiting the ability of providers to carry out essential maintenance.

A defence strategy where the offeree in a hostile bid responds with a bid for the offeror.