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Status: You are viewing the version of the handbook as on 2019-01-01.

SUP 15C.2 Request for exemption from the obligation to set up a contingency mechanism (Article 33(6) of the SCA RTS)

SUP 15C.2.1G

1Account servicing payment service providers that opt to provide a dedicated interface under article 31 of the SCA RTS may request that the FCA grant an exemption from the obligation in article 33(4) to set up a contingency mechanism. The exemption will be granted if the dedicated interface meets the conditions set out in article 33(6).

SUP 15C.2.1AD

1Account servicing payment service providers wishing to rely on the exemption in article 33(6) of the SCA RTS must submit to the FCA the form specified in SUP 15C Annex 1D by electronic means made available by the FCA.

SUP 15C.2.2G

1Account servicing payment service providers are encouraged to discuss an exemption request with their usual supervisory contact as early as possible, and before submitting the form in SUP 15C Annex 1D.

SUP 15C.2.3G

1The EBA issued Guidelines on 4 December 2018 on the conditions to be met to benefit from an exemption from contingency measures under article 33(6) of the SCA RTS. The Guidelines clarify the requirements account servicing payment service providers need to meet to obtain an exemption and the information competent authorities should consider to ensure the consistent application of these requirements across jurisdictions. The FCA provides further guidance on making an exemption request in chapter 17 of the FCA’s Approach Document.

[Note: see https://eba.europa.eu/documents/10180/2250578/Final+Report+on+Guidelines+on+the+exemption+to+the+fall+back.pdf/4e3b9449-ecf9-4756-8006-cbbe74db6d03 and https://www.fca.org.uk/publication/finalised-guidance/fca-approach-payment-services-electronic-money-2017.pdf]

SUP 15C.2.4D

1When completing the form specified in SUP 15C Annex 1D, account servicing payment service providers must provide to the FCA such information as is necessary to enable the FCA to determine whether the requirements in Guidelines 2 to 8 of the EBA’s Guidelines on the conditions to be met to benefit from an exemption from contingency measures under article 33(6) of the SCA RTS are met.

SUP 15C.2.5G

1Account servicing payment service providers should note that article 16(3) of Regulation (EU) 1093/2010 also requires them to make every effort to comply with the EBA’s Guidelines on the conditions to be met to benefit from an exemption from contingency measures under article 33(6) of the SCA RTS.