Regulatory Alerts2024-04-18
Added · Updated
Design of the Future Entity for UK open banking
The FCA expects the Future Entity to be established as a not-for-profit company limited by guarantee to serve as the primary standard-setting body for open banking APIs in the UK. The entity will monitor API performance, provide directory and certification services, and oversee adherence to common standards while collecting equitable fees from users to recover costs. An Interim Entity is no longer required; instead, the FCA will hold industry workshops over summer and autumn to refine the funding model and governance structure ahead of future legislation.
Topics
open-banking
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