FG24/6: Guidance for firms that enables a risk-based approach to payments

The regulator issued finalised guidance requiring firms to adopt a risk-based approach for managing payment services. This document mandates the implementation of tailored risk assessment protocols to identify, monitor, and mitigate operational and financial threats. Firms must integrate these requirements into their compliance structures and reporting mechanisms to ensure ongoing regulatory adherence.

United Kingdom

Financial Conduct Authority

Guidance Consultation (GC24/5)

09/09/2024

Consultation closed

04/10/2024

Finalised Guidance (FG24/6)

22/11/2024