Recent regulatory developments focussed on the payments sector.
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Interchange Fee Regulation: PSR consults on updating guidance
Draft Payment and Electronic Money Institution Insolvency Regulations
The draft Payment and Electronic Money Institution Insolvency Regulations have been laid before Parliament. The draft Regulations, if made, will create a new special administration regime for payment and electronic money institutions.
A draft explanatory memorandum states that this new regime will give insolvency practitioners administering the insolvencies of payment or electronic money institutions an expanded toolkit. This will allow the insolvency practitioner to keep an insolvent institution operational with the aim of ensuring continuity for consumers and prioritising the return of their funds.