The Payments Safeguarding CP webinar will provide an overview of our consultation on rules and guidance for the proposed safeguarding regime.

During the webinar, we will briefly discuss how the interim rules aim to enhance compliance with existing safeguarding requirements under the Electronic Money Regulations (EMRs) and Payment Services Regulations (PSRs). We will also outline our vision for the end state, which we propose will transition to a ‘CASS’ style regime, ensuring that consumer funds and assets are held in trust. Our goal is to address current weaknesses in the safeguarding framework by minimising shortfalls, ensuring prompt and cost-effective returns of safeguarded funds, and strengthening our capacity to identify and intervene with firms that do not meet safeguarding expectations.

This webinar offers an opportunity for stakeholders to engage with us, gain clarity on our proposals, and ask questions of the panellists. Additionally, it allows us to better understand stakeholders' interests to consider after the consultation period ends on 17 December 2024.