PSR Board minutes published: FCA has published the minutes of a meeting of the PSR Board meeting that took place on 21 January. During the meeting:
- Stephen Locke, Chair of the Payment Services Panel, provided a report on the progress of the recently established panel;
- the Board noted the overview of the responses to the PSR consultation paper and the proposed approach to operational and regulatory risk for PSR, which was underpinned by the three lines of defence model;
- the Board also highlighted the draft MoU between PSR, BoE, PRA and FCA, which was a statutory requirement;
- the Board stated that the finance report and the budget for 2014/15 were on track; and
- the Board indicated that PSR was planning to consult on the draft guidance to its concurrent competition powers in parallel with the FCA consultation on the same issue and that PSR had developed guidance using FCA’s guidance as a starting point. The Board agreed the consultation paper for publication.