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Regulatory

The Regulatory Working Group has the specific purpose to engage with regulatory bodies to promote and champion the regulatory concerns of members of The Payments Association, and drive change towards the development of a fairer regulatory landscape for payments companies.

What is a working group?

The Payments Association’s working groups are comprised of industry experts from across the payments chain, who share the mission of driving industry change to shape the future payments landscape and improve the industry on behalf of members of the association. Being a member of a working group is a fantastic opportunity to grow your network and gain valuable industry insights. All working group members are representatives of organisations with The Payments Association membership.

Each working group consists of a Core Committee and Supporter Members.

  • Committee members are engaged and active participants who commit to making regular contributions to outputs and monthly meetings. They are expected to commit 1-2 hours per month towards the working group.
  • Supporter members attend one meeting a quarter and receive the meeting notes from the other meetings.

Strategy and approach

Our mission

“The Regulatory Working Group, by engaging with key regulatory bodies, pushes for a fairer and more transparent regulatory landscape for payments companies. The working group provides a helpful and open forum for members of The Payments Association to swap and share insight, as well as an opportunity to contribute to industry consultations and thought-leadership activities to help resolve the regulatory concerns of The Payments Association community.”

Alison Donnelly, Director at Fscom, Working Group Lead

Team members

Alison's headshot

Alison Donnelly

Fscom
Regulator Working Group Lead; Director
Brett Headshot

Brett Carr

Latham Watkins
Associate
Elkhan

Elkhan Nasibov

Guavapay
Director
James Headshot

James Borley

Compliancy Services
Client Director
Kai

Kai Zhang

K&L Gates
Special Counsel
Laura Headshot

Laura McCracken

Advisory Board Member
The Payments Association
Lorraine Headshot

Lorraine Mouat

Thistle Initiatives
Head of Payment Services
Max headshot

Max Savoie

Sidley Austin
Partner
Melissa

Melissa Corkhill

Modulr
Head of Risk
Natalia Fritzen

Natalia Fritzen

SumSub
AI Policy and Compliance specialist
Nick headshot

Nick Botha

Autorek
Senior Sales Representative
Omar

Omar Salem

algbra
Head of Legal and Regulatory Affairs

Rebecca Hickman

Addleshaw Goddard
Partner
Robert Headshot

Robert Courtneidge

The Payments Association
Adviser
Rose Prasad

Rose Prasad

StoneX
Advisory Compliance (EMEA)
Teresa Headshot

Teresa Connors

Payment Matters
Client Director

Members involved

Outputs

Our latest report “Get Ready for the FCA’s Consumer Duty Rules: What You Need to Know” includes a conversation between Alison Donnelly, Director, fscom and Gaurav Gaur, Head of Commercial Payments Products, NatWest.

Here two leading forces in finance have come together to guide the industry to achieving that outcome. Together, Donnelly and Gaur outline the full face of the Consumer Duty, including invaluable insights into how firms can champion customer needs, offer fair value, and ultimately, abide by the FCA’s latest standards for consumer protection.

As noted in their letter earlier this year, good safeguarding practice in payment and e-money institutions continues to be a source of concern for the FCA. The legislation is not new, but variation in interpretation of not only the initial the requirements but what actions to take when an issue arises is a risk to both the industry and to customers.

The UK Payments Regulation Review report outlines the key conclusions of our work to assess the impacts of regulation, and identifies the key opportunities that regulators, working alongside the market, have to develop and enhance the UK regulatory regime for payments.

In this episode of Insights Podcast, host George Iddenden engages in a thought-provoking conversation with Akbar Hussain, co-founder and general counsel of TerraPay. They delve into the intricate challenges and opportunities in the payment sector, focusing on navigating complex regulations and fostering financial inclusion.

Get in touch

Interested in joining our Regulatory Working Group?

Please fill out the form to indicate your interest in receiving more information about The Payments Association’s Regulatory Working Group. A member of our Project Team will be in touch with you shortly.

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