02 October 2013
The Unexpected Consequences of Regulations on Payments
Chaired by Neil Burton, Director of Strategy, Earthport
Regulations often have unintended consequences. For example, since the headline fines of Standard Chartered and HSBC for money laundering last year, money service providers are finding banks are moving them off their payments network. In another area, the Vickers Report is meant to create a new wave of challenger banks. Is this what was desired and how are these things developing in the future?
To find out Neil Burton, Director of Strategy at Earthport, is assembling a leading group of policy shapers to debate the point including:
- Dominic Thorncroft, Chair of UKMTA, the trade association for the payments processors being challenged to find bank partners these days; and
- Fiona Brownsell, who was project director on the inception stage of Metro Bank and is as a strong lobbyist around the barriers to entry faced by new entrants into banking, having given evidence to the Treasury Select Committee and many other policymakers.