PSR colleagues have made payment systems safer, more competitive and increasingly innovative. They should be proud of the huge amount achieved.With a changed payments landscape, now is the right time to put in place a more streamlined regulatory framework. Doing so is a natural next step following recent work to improve co-ordination and clarity on regulatory responsibilities.We will work closely with government, the Bank of England and the payment sector as the details of this change are decided and to ensure the transfer of any powers is smooth. In the meantime, we will drive forward with change, including welcoming the deep expertise of PSR colleagues within the FCA.