On June 29, 2018, the Payment Systems Regulator (PSR) published a policy statement on PSR regulatory fees, which introduces a new regulatory fees regime to be implemented from 2018/2019. It is addressed to participants in regulated payment systems under the Financial Services Banking Reform Act 2013 (FSBRA), and regulated persons under the Interchange Fee Regulations 2015 (IFR) regulated persons and the revised Payment Services Directive (PSD2).