Regulator Profile
PSR
Payment Systems Regulator
Enforcement Regulator3
Areas of regulation
17
Laws enforced
UK-wide
Quick links
Access
Competition
Payment Systems
What PSR does
Economic regulator for payment systems in the UK. Promotes competition, innovation, and service-user interests in payment systems. Regulates participants in designated payment systems (BACS, CHAPS, Faster Payments, LINK, card schemes). Can direct payment system operators and participants.
Additional information
Subsidiary of FCA but operationally independent. Key focus on APP (Authorised Push Payment) fraud reimbursement requirements.
Legal framework
Legislation that PSR enforces.
Primary legislation
- Competition Act 1998 Act 1998
- Bribery Act 2010 Act 2010
- Capital Allowances Act 2001, Part 2 Act 2001
- Copyright, Designs and Patents Act 1988 - Legislation.gov.uk Act 1988
- DMCCA 2024 Act 2023
- Enterprise Act 2002 Act 2002
- Financial Services (Banking Reform) Act 2013 (strengthened depositor protection) Act 2013
- Health and Social Care Act 2012 Act 2012
- Law of Property Act 1925 Act
- Performers' Rights (Part II CDPA 1988) Act 1988
- Terrorism Act 2000 Act 2000
Secondary legislation
- Article 60F RAO exemption UK Statutory Instrument 2001
- Economic Crime (Anti-Money Laundering) Levy Regulations 2022 UK Statutory Instrument 2022
- Insurance and Reinsurance Undertakings (Prudential Requirements) Regulations 2023 UK Statutory Instrument 2023
- Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 UK Statutory Instrument 2018
- Money Laundering Regulations 2017 UK Statutory Instrument 2017
- Payment Services Regulations 2017 UK Statutory Instrument 2017