What are the conduct of business requirements?
The PSRs require firms to provide users with a range of information (for example, pre-contract information, such as terms and conditions and post contract information such as amount and currency of payment) and there are various provisions regulating the rights and obligations of payment service users and providers (for example, firms are prevented from deducting charges unless otherwise agreed). Full details are set out in Parts 5 and 6 of the PSRs. The slides [PDF] from our industry briefing events, held in March/April 2009 set out some of the key conduct of business requirements.
