Payment Services Regulatory Horizon Scanning 2024
Date: 24th January 2024
Time: 10:00 am - 11:00 am
Hosted by: James Borley and John Burns
On 24th January 2024, we hosted the second of three Horizon Scanning webinars, which looked at what's coming down the regulatory track for 2024, with a focus on the Payments sector.
The objective of these webinars was to:
- highlight the key regulatory initiatives and reforms hitting firms and compliance departments in 2024;
- to share what we believe are key FCA priorities and any common themes we are seeing in FCA communications derived from our collective experience of working across multiple sectors; and
- to help enable participants to earmark resources to prepare for regulatory initiatives in good order.
The agenda below highlighted the main areas of focus for this webinar, in addition to other items covered from the FCA's regulatory initiative grid.
- Safequarding Consultation
- APP Fraud
- Confirmation of Payee
- Operational Resilience
This webinar is relevant for all firms within the Payment Services space, including, payments, e-money, cryptoasset, and banking firms.
James, our Managing Director for Payment Services, is a highly qualified financial services expert and a familiar name to many in the payments and e-money community. James leads our Payment Services Practice and provides technical support to our clients, specialising in payment services regulation and new firm authorisations. James represents Cosegic as a member of ‘Project Regulator’ at the Payments Association; The Association of Foreign Exchange and Payment Companies (AFEP); and as a Director of The Association of Professional Compliance Consultants (APCC), where he chairs the FCA Authorisations Liaison Group.
Before joining Cosegic, James spent over 22 years’ as a regulator at the Financial Conduct Authority (FCA). During his time with the FCA, James held a number of significant roles including: Head of Passporting 2005-2010; Authorisations Manager 2010-2016; and PSD2 Accountable Executive 2016-2017, where he was responsible for the project to implement PSD2 into UK regulation. James was also a member of the European Banking Authority working group which developed the information requirements set out in the EBA’s authorisation ‘Guidelines’
John is one of the UK’s foremost compliance experts in payment services, and he is Senior Advisor in our Payment Services Practice.
Assisting Banks, Payment Institutions and E-money Institutions manage their compliance and plan their future commercial strategies in the light of changing regulations, and has unparalleled experience of relevant payments legislation and regulation.
Immediately before joining Cosegic, John was Senior Manager, Compliance Advisory, for Global Transaction Banking at Lloyds Bank where he also acted as subject matter expert on payments. Prior to that he was the FSA’s Technical Specialist on Payments, dealing with the UK implementation of the Payment Services Directive and the 2nd E-Money Directive.
He was the first editor of the FSA’s PSR Approach Document and assisted with the development of PERG 15 in the Handbook, as well as assisting HM Treasury with the drafting of the UK legislation. At EU level he was a member of the European Commission’s Payments Committee, the ECB’s Forum on the Security of Retail Payments and the EBA’s Standing Committee on Consumer Protection and Financial Innovation.