Regulation.
Coverage of consultations, frameworks, supervisory expectations, and the long-running professional discipline of describing twelve-month delays as alignment.
Regulation in payments and fintech is dense, well-intentioned, and frequently described as moving "in the right direction" by people for whom the alternative is unattractive. The Ledger covers consultation papers, exposure drafts, response submissions, and the implementation periods that follow. Particular attention is paid to consultations on the consultation process.
Recent Coverage
Financial Clipboard Authority Publishes Roadmap Confirming It Will Publish a Discussion Paper About Open Finance in Q4 2026
The roadmap confirms a discussion paper is planned for Q4 2026. The discussion paper will explore the case for a consultation. The consultation timeline is to be confirmed.
Financial Clipboard Authority-Commissioned Assessment Identifies Open Banking Continuity Limited as Best-Placed Organisation to Design the Organisation That Will Run Open Banking
A commissioned assessment of potential future entities has concluded that the current entity is best placed to design its own successor. The successor's governance structure is yet to be determined.
Federal Regulators Directed to Identify Fintech Provisions That Could Be Updated, With Updates to Follow at a Later Interval
Regulators have 180 days to identify provisions. Updates to identified provisions will follow. A timeline for updates will be provided following the identification phase.
UK Payments Supervision Rectangle Responds Positively to Consultation on Its Own Disappearance
The regulator has reviewed the proposal to abolish it and found the proposal well-evidenced. It has recommended the abolition proceed in an orderly fashion. It will oversee the transition.
Financial Crime Clipboard Authority Extends Compliance Deadline; Industry Requests Further Extension
The compliance deadline has been extended by six months. Industry has welcomed the extension. Industry has simultaneously requested a further extension. The further extension is under consideration.
AI Governance Framework Version 6.0 Published; Industry Prepares For Version 7.0
Version 6.0 of the AI governance framework has been released. Version 5.0 compliance is still in progress. Industry has commenced preparation for Version 7.0.
Regulator Releases 300-Page Guidance On Simplifying Reporting Requirements
The simplification reduces 14 templates to 11. The 11 templates require 9 additional data fields. A short-form summary is provided. The short-form summary is 64 pages.
Consultation Paper Seeks Feedback On Consultation Process
The consultation runs for 90 days. Submissions to date have indicated industry will need more time. An extension is being considered. The extension is itself subject to consultation.
BNPL Platforms Report Record Defaults; Growth Described As "Sustainable"
Buy now pay later platforms have reported record default rates. Platforms describe overall credit quality as within expected parameters. The parameters were adjusted last quarter.
Open Banking API Readiness On Track For Delivery After Multi-Year Delay
The delivery timeline has been revised for the third time. Industry describes the revised date as achievable. The revised date contains a contingency buffer.