UK Payments Regulation Horizon Report 2022

The UK’s regulatory landscape for payments continues to evolve. In 2022, more products and services will be brought within the regulatory perimeter. The FCA will continue its more assertive approach to supervising payments firms, especially once its operational resilience and consumer duty regimes take effect. Changes to payments infrastructure will start to take shape, including setting the future course for Open Banking.

In our payments horizon report 2022, we set out the important regulatory milestones for the year to come. We cover the FCA’s approach to payments supervision, cross-sectoral developments, the payments landscape, and what the next steps are for regulating crypto-assets in the UK. We also compare these with similar developments in the EU.

The report has been updated to take into account FCA PS21/19 which was published on 29 November 2021.