UK: PSR Publishes Decision on Review into 'Day One' Directions and Consultation on Proposed Directions

On March 14, 2019, the Payment Systems Regulator (PSR) released a policy statement outlining its decisions regarding changes to the General and Specific Directions originally issued in March 2015 ("day one" directions). 

The "day one" directions comprise six General Directions (GDs 1 to 6) and one Specific Direction (SD 1) under the Financial Services (Banking Reform) Act 2013.

Following the close of consultation paper 18/1 on a review of the PSR directions in 2015, this policy statement discusses the main issues arising from the original consultation and clarifies the regulator's policy positions.

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