FCA publishes policy statement on SCA in the event of a no-deal Brexit

Regulatory Updates | 25/10/19

The Financial Conduct Authority (FCA) has published policy statement PS19/26 Brexit—Regulatory technical standards for strong customer authentication and common and secure open standards of communication. The statement confirms that in the event of Britain leaving the European Union without a deal, the FCA will make regulatory technical standards (RTS) for strong customer authentication (SCA) that are substantially the same as those in Commission Delegated Regulation (EU) 2018/389 (SCA RTS). The policy includes a summary of, and the FCA’s response to, CP18/44 Brexit – Regulatory Technical Standards for Strong Customer Authentication and Common and Secure Open Standards of Communication, and the forms of instruments making the UK RTS and corresponding changes to the FCA Handbook.