Learning objectives
- Recognise what services are covered by the PSRs
- Know the Conduct of business rules under the PSRs
- Understand the rights and obligations under the PSR rules
- Identify the rules for handling complaints under PSR
Welcome
What do we mean by payments?
- What is a payment account?
- Background to the PSRs
- Transition to the PSRs 2017
Payment Systems Regulator
- Exercise: PSR guidance
Scope of the Payment Services Regulations 2017
- Services out of scope of PSR
- Exercise: Scope of PSR
Authorisation & registration of payment institutions
- Exercise: Authorisation of payment institutions
Conduct of Business Rules
- Client scenario: Conduct of Business
Conduct of Business: Information
Information requirement for single payment transactions
Information requirement for framework contracts
Rights & obligations
- Client scenario: Conduct of business
- Client scenario - 2
- Client scenario - 3
- Client scenario - 4
- Client scenario - 5
When a customer complains
-
Client scenario: Complaints handling
Interaction with other legislation & regulations
- Future changes
Summary
Affirmation
Assessment
Economic Sanctions
Violation of sanctions issued by the UN, the US and the EU which place restrictions on payments and other financial transactions can result in fines as well as criminal charges.