BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.
This overview is a guide to the Lexis®PSL Financial Services content within the E-money subtopic, with links to appropriate materials.
It introduces a group of Practice Notes that cover electronic money and related areas. It introduces the Financial Conduct Authority’s (FCA) approach and guidance and links are provided throughout to sources, texts and relevant content.
Electronic money, or 'e-money', is essentially cash stored in electronic form. For more information on the definition of e-money, see Practice Note: What is electronic money?
Within the European Union, the primary pieces of legislation governing the regulation of e-money are the E-money Directive (2000/46/EC) and the Second E-Money Directive (2009/110/EC).
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