How we build strategic relationships and help industry comply with our rules
The Supervision and Compliance Monitoring division ensures that our regulation delivers good outcomes for users of payment systems. This includes promoting innovation and competition in the payments market.
If you are a payment systems operator, your dedicated contact in our Supervision team will develop a long-term strategic relationship with you and your firm. Your contact will make sure you understand our regulatory expectations and we understand your business and challenges.
Our Compliance Monitoring team ensures that firms comply with the directions we issue to support our regulatory interventions. They aim to understand the actions you’re taking, or have taken, to comply. This helps our regulations to deliver the right benefits to end users of payment systems. Good compliance also allows us to evaluate the effectiveness of our regulations.
The Enforcement Team has the power to investigate where we think a firm hasn’t followed the rules we oversee. The team is more likely to open an investigation if, based on the information available to us, we consider the relevant compliance issues are likely to have a greater adverse impact on how we advance our statutory objectives.
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Supervision
The Supervision team helps manage our relationships with payment system operators (PSOs). -
Complying with our rules
We monitor industry compliance with our requirements, and where we identify risk to, or impact on service users, we act quickly and proportionately to put things right. -
Enforcement
Our Enforcement team uses our statutory powers to investigate suspected compliance failures. If appropriate, we can publish details and impose financial penalties. -
Complaints and disputes
We will investigate concerns but there are strict criteria.