Jacob Ghanty is a partner in Berwin Leighton Paisner LLP’s Financial Regulatory Group. On a regular basis, Jacob shares his views with Practical Law Financial Services subscribers on topical payment services and electronic money issues.

In his June 2014 column, Jacob looks at progress made with the new Payment Systems Regulator (PSR), the European Central Bank's (ECB) report on extending SEPA to card payments and the Payments Council’s new Code on Misdirected Payments.