These Regulations make a number of amendments to other statutory instruments relating to payment services and systems and electronic money.

Part 2 amends the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) to extend protection from insolvency proceedings for transfers in systems which have been designated under those Regulations until such transfers have been settled, so that such protection applies to transfers originating from non-bank payment institutions.

Part 3 makes amendments to the Payment Services Regulations 2017 (S.I. 2017/752) and to other related instruments. The amendments enable funds safeguarded for customers of payment service providers and electronic money issuers to be held in a single bank account, make provision for agents of registered account information service providers, make provision for provision of electronic money issuing services in Gibraltar by United Kingdom firms and vice versa, and enable the Financial Conduct Authority to continue to consider spent convictions when making decisions in relation to payment service providers.

Part 4 makes amendments to the Banking Act 2009 (Inter-Bank Payment Systems) (Disclosure and Publication of Specified Information) Regulations 2010 (S.I. 2010/828) in consequence of amendments to the Banking Act 2009 (c.1) made by the Digital Economy Act 2017 (c. 30).

A full impact assessment has not been produced for this instrument as no significant impact on the costs of business or the voluntary sector is foreseen.