FCA: CP24/20: Changes to the safeguarding regime for payments and e-money firms
25 Sep 2024 (UPDATED: 13 Mar 2026)
United Kingdom
1 min read
FCA is consulting on rules and guidance for the interim and end state stages of the proposed safeguarding regime which are intended to improve compliance with the existing safeguarding requirements set out in the EMRs and PSRs. The end state will replace the safeguarding requirements of the EMRs and PSRs with a “CASS” style regime where relevant funds and assets are held on trust for consumers. The proposed rules will also apply to EEA firms in supervised run-off under the financial services contracts regime, but the rules will not apply to firms subject to unsupervised “contract run off”. Responses are required by 17 December 2024.