- On 4 August 2016, the FCA published the minutes of the meeting of the Payment Services Stakeholder Liaison Group that was held on 12 July 2016.

-The FCA has decided to reconvene the group, which last met in July 2013, to assist with the development of an approach to the UK implementation of the revised Directive on payment services in the internal market ((EU) 2015/2366) (PSD2) by 13 January 2018.

-The minutes contain discussion on:

- HM Treasury's intention to carry out a six week consultation, commencing in August 2016, on the draft regulations implementing PS02. (Note: HMT have not yet published the consultation)

-The FCA's plan to consult on the revised guidance for payment services in the first half of 2017, following the February 2016 call for input.

- The issues raised in relation to article 75 of PS02 concerning the blocking of funds on card-based payment accounts when the transaction amount is not known in advance.

- What is captured under the new definition of "acquiring of payment transactions" under article 4(44) of PSD2, and how these changes should be reflected in FCA guidance.

- The type of statistical data to be collected on fraud under article 96(6) of PSD2. In particular, clarification was sought on how data that is already collected could be aligned with new reporting obligations under PSD2. The FCA intends to follow up on this issue.

- In relation to articles 65, 66 and 67 of PS02, the meaning of "accessible on line". This concerns the obligations relating to the confirmation of the availability of funds, payment initiation and account information for account servicing payment service providers (ASPSP). These obligations only apply if the payment account provided by the ASPSP is accessible online.

- The next meeting is on 13 September 2016.

See the minutes here.