Payment Services

 

Track and demonstrate compliance with Payment Services (PSR, 2017) legislation:

  • Legal Structure and Entity Type

  • Choice of Authorisation: SPI, API, or EMI

  • Principal Place of Business & Mind and Management in the UK

  • Close Links and Controllers

  • Threshold Conditions (COND) Overview

  • Regulatory Business Plan

  • Target Market and Client Base

  • Use of Agents/Distributors

  • Financial Forecasts

  • Exit Strategy and Wind-down Plan

  • Initial Capital

  • Own Funds (Ongoing Requirement – Method A/B/C)

  • Liquidity and Solvency Monitoring

  • FCA Application and Ongoing Fee Structure

  • Applicability of Safeguarding by Firm Type

  • Safeguarding Methods

  • Reconciliation and Record-Keeping

  • Audit and Independent Review

  • Governance Framework

  • Key Individuals and PSD Roles

  • Fitness and Propriety (FIT Criteria)

  • Control, Conflicts and Delegation

  • PSRs, 2017: Regulations 4 - 101

 
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