The UK payments landscape is undergoing a period of great transformation. This is being driven by the global adoption of the ISO 20022 standard, as well as the proposed New Payments Architecture “NPA”.

The PRA expects firms' use of models to continue to increase as they extend the use of models, for instance to quantify of the financial risks associated with climate change and the introduction of AI and ML techniques.

The proposed amendment is rumoured to broaden the Registrar of Companies’ powers to become a more active gatekeeper over the creation/updating/removal and custodian of more reliable data, including new powers to check, remove or decline information submitted to, or already on the registry.