Dear CEO: Safeguarding attestation required by 31 July 2019

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

On the 4 July 2019, the FCA released a ‘Dear CEO’ letter that addressed both the positive and negative practices of non-bank Payment Service Providers (“PSPs”) as they seek to comply with their obligations to safeguard customers’ funds. The FCA identified a number of failings in the safeguarding processes of the 11 PSPs it reviewed over a six-month period and has set out mandatory actions for PSPs.

Read more here.

More To Explore