UK Finance responds to HM Treasury’s reviews of the PESAR rules

As is the case for revising the safeguarding rules, UK Finance recommends that a one size fits all approach doesn’t work and proposes that they need to be replaced with a more flexible regime.

The current rules don’t recognise the difference between small emoney firms and enterprise level international scale firms. The current system is too court driven and insolvency practitioners should be empowered to have more control – to increase speed and reduce costs, delivering better outcomes for customers.