Letter from the Chancellor of the Exchequer to the Chief Executive of the Financial Conduct Authority (FCA) and Managing Director of the Payment Systems Regulator (PSR) providing recommendations on payments regulation.
The Financial Services and Markets Act 2000 and Financial Services (Banking Reform) Act 2013 require the Treasury, at least once in each Parliament, to make recommendations to the FCA and PSR, respectively, about aspects of the government's economic policy to which the FCA and PSR should have regard, including when advancing their objectives and discharging certain functions or duties.
This letter provides such recommendations and outlines the important role the FCA and PSR play in supporting the growth mission and achieving the ambitions set out in the National Payments Vision .
