If you ever question why collaboration pays, look at this result: advocacy groups from the #payments industry including UK Finance and The Payments Association have prevented well-meaning but disproportionate regulators from imposing 'creative' but what would have been seriously damaging changes to safeguarding regulations in the UK. The team at Travers Smith led by Natalie Lewis and Matt Humphreys highlight this outcome in their article, explaining how the changes being made will mean EMIs and PIs can continue to compete on a level playing field. World class collaboration. Riccardo Tordera-Ricchi Robert Courtneidge Mitch (Munish) Trehan Neil Harris Jana Mackintosh Nuala Jackson Sophie Boissier Ben Agnew Tom Brewin https://lnkd.in/evjedX7H
James Turner
1mo
Tony Craddock well done to all of the trade associations, and indeed firms, that responded! And let us not forget to thank the FCA for their approach to this exercise. I am sure this will come up (perhaps more than once) at our Future of Fintech 2025 conference on 17 September - looking forward to seeing (at least!) Riccardo Tordera-Ricchi Robert Courtneidge Nuala Jackson Adam Jackson Claire Conby Nilixa Devlukia and many others there (Andy Thornley I'm still hopeful you'll make it!)
This was such an important step for our industry and the united stance by all the trade associations was listened to by HM Treasury and the Financial Conduct Authority and the outcome was good for us all and UK plc!! Let’s hope we can do the same for #stablecoins consultation Tony Craddock Riccardo Tordera-Ricchi and the UKs updating of Electronic Money and Payment Services Regulations 🙏🏻
Great post Tony Craddock and thanks for the article Travers Smith Natalie Lewis and Matt Humphreys - when industry, trade associations and regulators truly collaborate and understand all sides of the equation, we can truly develop world leading policy and focus. It's been a while since I saw the industry jump up and really react to a Consultation Paper that truly had so much impact on the payments ecosystem (bar Consumer Duty). It's great to see that the regulator has listened and considered on a pragmatic and proportionate way the need to balance protection with promoting growth! Thank you to Jane Moore and the team at the FCA!
Well done to everyone involved, and thank you, Tony Craddock, for being the ever vigilant payment industry champion.
Impressive and well done The Payments Association
Head of Projects at The Payments Association
1moGreat outcome for the industry, Tony Craddock! I also want to acknowledge the significant contributions of Omar Salem and Brett Carr in shaping The Payments Association's response to the FCA consultation last December.