financial crime and payments

financial crime and payments

FCA publishes KPMG assessment of future open banking standards body and calls on industry to move promptly on next steps

The FCA has released an independent KPMG report on proposals to establish a permanent open banking standards-setting body, telling industry it expects prompt decisions on next steps. A second KPMG report on operationalisation follows in the coming weeks.

financial crime and payments

Bank of England consults on phased RTGS and CHAPS extension to near 24x7, with Sunday settlement no earlier than 2029

The Bank of England has set out a phased roadmap to extend RTGS and CHAPS settlement hours towards near-continuous operation. Payment firms, banks, and any firm relying on same-day sterling settlement face operational and liquidity management implications. The response deadline is 10 August 2026.