Statement from Nikhil Rathi, Chief Executive of the FCA, in response to the Government’s announcement on the future of the Payment Systems Regulator (PSR) 

"On December 3, 2025, the Financial Conduct Authority issued an update regarding a Statement from Nikhil Rathi, Chief Executive of the FCA, in response to the Government's announcement on the future of the Payment Systems Regulator (PSR). The statement highlighted the PSR's achievements in making payment systems safer and more innovative. A new streamlined regulatory framework will be put in place, with close collaboration between government, the Bank of England, and the payment sector to ensure a smooth transition."