UK FCA Consults on Changes to Strong Consumer Authentication, Dedicated Interfaces, and Guidance on Payment Services
Data Matters
FEBRUARY 25, 2021
The FCA has provided new guidance for PIs and EMIs using the “insurance or comparable guarantee” method of safeguarding. This includes a requirement that the insurance policy or comparable guarantee must pay out for the full amount of any claim regardless of how the relevant insolvency event occurs (including if the firm is at fault).
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