Guidance

Draft EU Exit SIs for payment services, e-money and the SEPA Regulation

Two draft statutory instruments, covering amendments to the Payment Services Regulations 2017, Electronic Money Regulations 2011, and the “SEPA Regulation”, to fix deficiencies in retained EU law under the EU (Withdrawal) Act.

Documents

Details

These SIs will make amendments to retained EU law related to payments and electronic money to ensure that the regime continues to operate effectively in a UK context once the UK leaves the EU, in any scenario. This includes the SEPA Regulation, which the UK is retaining to maximise our chances of retaining membership of the Single Euro Payments Area. The draft SIs are provided, alongside an explanatory policy note. HM Treasury intends to lay these SIs before Parliament in the autumn.

Published 5 September 2018