The Payments Systems Regulator (PSR) has published two guidance documents on its competition law powers, following a consultation launched in January of this year. The first concerns its market reviews, market studies and market investigation reference powers and the second covers its Competition Act 1998 powers.
What this means for you
The PSR’s aim has been to adopt similar procedures to the FCA, in recognition of the advantages of alignment for stakeholders regulated by both authorities. As such, the guidance documents are based extensively on the FCA’s guidance, and take into account responses to the FCA’s consultation process, the PSR’s own process and comments made at the organisations’ joint stakeholder meeting about the draft guidance.