PSR speaks on "regulatory challenges": Hannah Nixon, managing director of PSR, has spoken on the regulatory objectives of the organisation and the challenges it faces. In her speech she concentrated on three "core areas" within which the industry could improve:

  • the development of an overarching strategy. To facilitate this PSR will be launching a new "Industry Strategy Forum" in an effort to improve co-operation and co-ordination between the various industry players;
  • reform of the ownership, governance and control of payment systems. PSR aims to change the payment systems infrastructure to encourage greater innovation and transparency, through enforcement, if needs be; and
  • increasing access, especially for new entrants into the market.

She concluded by outlining PSR's place in the regulatory framework and stressing its co-ordination with other regulatory bodies such as FCA, Treasury and the Bank of England. (Source: Payment Systems: The Regulatory Challenge)