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ARTICLE · 17 APRIL 2014

Payment Systems Regulator Established

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On 1 April 2014, the new Payment Systems Regulator ("PSR") was established, although it will only become operational in April 2015.

European UnionFinance and Banking
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On 1 April 2014, the new Payment Systems Regulator ("PSR") was established, although it will only become operational in April 2015. On 4 April 2014, the FCA announced the members of the Board of the new Payment Systems Regulator. The Chairman is John Griffith-Jones, deputy chairman is Martin Wheatley, interim managing director is Mary Starks and there are three non-executive directors, Chris Woolard, Brian Pomeroy, and Amelia Fletcher. The FCA is currently seeking stakeholder input on the PSR and will consult formally later this year on the regulatory approach, fees and the rulebook. HM Treasury has until April 2015 to announce which payment systems are to be regulated by the PSR.

Further information is available at: http://www.fca.org.uk/firms/firm-types/payment-systems .

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