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<p>The UK’s legislative framework for payment services, including cross-border payments,
places various disclosure requirements on payment firms. This includes the ability
to opt out of disclosures for certain corporates, where both parties agree.</p><p>This
legislation derives from EU law, which will be replaced under the government’s Smarter
Regulatory Framework programme. Under this, it is intended that government legislation
will set the framework within which the regulators will operate. In general, firm-facing
requirements, such as these cross-border disclosures, will be determined by the relevant
regulator (in this case, the FCA).</p>
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