The British paying dog should be abolished as part of a purge of beaten regulators in Whitehall.
Sky News learned that ministers and civil servants examine whether the payment systems regulator (PSR) must be removed and fold it into the Authority Conduct (FCA).
A decision should be made in principle in a few weeks, although sources said this weekend that the government “actively envisaged” the decision to remove the body.
If it were confirmed, it would be part of a repression against British economic regulators caused by Sir Keir Starmer, the Prime Minister, and Rachel Reeves, the Chancellor, while they seek to reduce administrative formalities and stimulate growth economic.
The President of Competition and the Authority Authority (CMA), Markus Bokkerink, was ousted by the ministers last month in the midst of the concerns that there was too little in the competitiveness of the United Kingdom.
Mr. Bokkerink has been replaced by Doug Gurr, an old manner from Amazon.
Since then, the President and the Director General of the Financial Ombudsman Service have announced his intention to resign.
Speaking in January, Jonathan Reynolds, the business secretary, reported that a certain number of childcare dogs could be abolished, saying: “We must really ask ourselves the question: have we had the right number of regulators? “”
He did not identify publicly which of them could be deleted, although the Financial Times reported this week that the Chancellor would order an audit of around 130 regulators through the economy to assess if they were sufficiently focused on Growth.
The day before Christmas Eve, the Prime Minister and the Chancellor wrote about 15 main regulators – notably ofcom, ofgem and ofwat – demanding ideas on how to suppress bureaucracy of the economy and to encourage more in a proactive way growth .
Ms. Reeves has since had a number of round paintings with the recipients of the letter.
The PSR employs around 160 people, according to its website, and is directly responsible for the parliament.
It was created under the 2013 law of 2013 on financial services (banking reform) and became operational two years later.
The organization, which is responsible for the Parliament, has been criticized by industry and politicians on its regulatory approach, including in relation to the reimbursement of fraud by financial service companies.
Nevertheless, its function is considered critical because technology reshapes the world payments of payments.
David Geale, the acting managing director of the PSR, has been in office since last summer.
The guard dog is chaired by Helpne Walsh, a former boss of the financial charity association, the Fairbanking Foundation.
Sheldon Mills, executive director of the FCA, consumers and competition, also sits on the PSR board of directors.
A source said that the withdrawal of the PSR and fold it into the FCA would make sense for several reasons, including questions about its performance.
“No other major economy has a regulator of autonomous payments like this, and it is difficult to plead in favor of the continuation of existence,” said the source this weekend.
The Treasury refused to comment, while the PSR did not respond to a request by email on Saturday morning.