The UK Government is reportedly considering dissolving the Payment Systems Regulator (PSR) and integrating it into the Financial Conduct Authority (FCA) as part of its broader economic growth agenda. The PSR, while fully independent, already shares some operational services with the FCA.

According to Sky News, a decision could be made in principle within weeks. Sources say the government is “actively considering” the move, aligning with efforts to reduce regulatory complexity and boost economic growth.

This potential change follows a wider government push to streamline regulatory bodies. Last month, Marcus Bokkerink was removed as chairman of the Competition and Markets Authority (CMA) over concerns that the regulator was hindering growth. He was succeeded by Doug Gurr, a former Amazon executive.

In parallel, leadership shifts continue across other regulatory bodies, with both the chair and chief executive of the Financial Ombudsman Service announcing their resignations.