FCA confirms changes to rules and guidance for payments firms

The FCA has finalised changes to the UK strong customer authentication regime. PS21/19 introduces a new exemption from the 90-day reauthentication requirement and requires some payment service providers to build dedicated interfaces allowing third parties to access payment accounts. It also confirms changes to FCA guidance for payments firms, although references to safeguarded funds being held on trust are watered down following a recent High Court case.