Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Brexit definition

What does Brexit mean? Brexit is the practical shorthand in legal drafting and advice for the United Kingdom’s withdrawal from the European Union and the legal, regulatory and trading changes flowing from it. It covers the UK’s cessation of EU membership on exit day (31 January 2020) and the cessation of the EEA Agreement’s application, the end of the implementation/transition period on IP completion day (31 December 2020), and the commencement, expiry or variation of post‑withdrawal trading and regulatory arrangements, including the UK‑EU Trade and Cooperation Agreement, the Windsor Framework (amending the Northern Ireland Protocol), and UK agreements with third countries...

UK post-Brexit payments and e-money: retained EU law, statutory instruments and onshoring changes—status guide to 2EMD, CBPR/SEPA, PAD, PSD2, IFR

Published by a LexisNexis Financial Services expert

Practice notes

brexit Financial Services Legislation Status Guide

This guide outlines high-level information on the status of EU laws regulating the payments sector, namely:

the second Electronic Money Directive (Directive 2009/110/EC) (2EMD)
the Cross-Border Payments Regulation (Regulation (EC) 924/2009) (CBPR) as amended by Regulation (EU) 2019/518 (CBPR2)
the Regulation establishing technical and business requirements for credit transfers and direct debits in euro and amending the CBPR (Regulation (EU) 260/2012) (SEPA Regulation)
the Payment Accounts Directive (Directive 2014/92/EU) (PAD)
the recast Payment Services Directive (Directive (EU) 2015/2366) (PSD2)
the Interchange Fee Regulation (Regulation (EU) 2015/751) (IFR)

This Practice Note should be read alongside the following Practice Notes:

Impact of Brexit: Payment services and electronic money directives—quick guide [Archived]
Impact of Brexit: SEPA Regulation—quick guide [Archived]
Impact of Brexit: Payment accounts—quick guide [Archived]
Impact of Brexit: Interchange Fee Regulation—quick guide [Archived]

During the implementation period from 1 January 2020 to 31 December 2020 (IP completion day), parts of the CBPR (as amended by CBPR2), the SEPA Regulation and the IFR were directly applicable in the UK under the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as...

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Web page updated on 22/05/2026

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