Treasury has opened a consultation, which runs until 25 June 2013, on the characteristics of a new competition-focused and utility-style regulator for the UK retail payment systems. This follows the Government’s decision to go further than the options considered in its 2012 consultation on “Setting the Strategy for UK Payments”, which consisted of either beefing up the Payments Council or introducing a public body that would participate in strategic decisions. Treasury is proposing to give the new regulatory role over the payments system to FCA or to any of the existing economic regulators. The consultation also covers the potential licensing regime and proposals to address vertical integration and barriers to acceding shared networks. (Source: Opening Up UK Payments)