Regulatory Alerts2018-12-14
Added · Updated
PS19/26: Brexit - Regulatory Technical Standards for Strong Customer Authentication and Common and Secure Open Standards of Communication
The Financial Conduct Authority confirms it will make the UK-RTS and amend the Handbook on Exit day in the event of a no-deal Brexit. The UK-RTS substantially replicates the EU SCA-RTS, requiring payment service providers to use eIDAS certificates for secure communication and applying to firms authorized in the UK or Gibraltar. The instrument revokes the EU SCA-RTS and converts euro-denominated financial thresholds to sterling values fixed at the rates used in the consultation paper to avoid disruption. The instrument comes into force on 1 November 2019, with compliance required from Exit day.
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