Policy paper

Proposals for the design of the future entity for UK Open Banking

The Joint Regulatory Oversight Committee (JROC) has published its recommendations for the open banking future entity and welcomes input on certain questions.

• From: HM Treasury
• Published: 19 April 2024

This was published under the 2022 to 2024 Sunak Conservative government

Documents

JROC’s proposals for the design of the Future Entity for UK open banking

PDF, 711 KB, 60 pages

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Details

The JROC is formed of the Financial Conduct Authority (FCA), the Payment Systems Regulator (PSR), the Competition and Markets Authority and HM Treasury. The FCA and PSR are the committee’s co-chairs.

In April 2023, JROC published its recommendations for the next phase of open banking in the UK and committed to share detailed recommendations for the design of the future entity for open banking in the UK. Following extensive engagement with open banking participants, this report sets out recommendations on the design of the structure, governance, and funding of this future entity.

Where JROC considers further industry input beneficial, JROC is seeking comment on a limited number of recommendations by 20 May.

Published 19 April 2024