We have launched a consultation on proposed changes to our Powers and Procedures Guidance. 

Date Published: 03 October 2023          Closing Date: 23 October 2023 

Why are we publishing this document? 

Our Powers and Procedures Guidance (PPG) sets out our approach to using our powers and how we work in practice.  

We published our original PPG in 2015, and a revised version in 2020. Since then, the PSR’s management structure has evolved, with the recent announcement of a new-look executive team and a new Supervision and Compliance Monitoring Division.  

We are proposing changes to our PPG to reflect this new structure more accurately.   

What does this document contain? 

The two main updates we are proposing to our PPG, are:  

1. To change who can decide to open an enforcement case 

As it stands, the decision to open an enforcement case must be made by two staff members at manager level or above, appointed by the PSR’s Managing Director. This doesn’t reflect our current management structure and practices, or account for the new Supervision and Compliance Monitoring Division.  

We are proposing alternative decision makers, aiming to streamline the process and provide executive oversight at the start of an investigation.   

2. To remove restrictions around who can join enforcement case teams  

This change would specifically enable staff who have been involved in the monitoring stage of a suspected compliance failure to become part of the enforcement team investigating.  

This would allow us to allocate resources more efficiently to support operational objectives, react swiftly to emerging issues, and deliver outcomes quicker. When allocating any staff to an enforcement team, it is carefully considered on a case-by-case basis whether their involvement is appropriate and will have no adverse impact on the case.   

Who should read this document? 

This document is relevant to the payments industry, particularly those firms subject to the regulations and obligations we enforce. 

What happens next? 

This consultation is open until 5pm on 23 October 2023. The PSR expects to publish its final PPG early next year.  

You can email us at  PPGReview@psr.org.uk  or write to us at the following address: 

PPG Review 

Payment Systems Regulator 

12 Endeavour Square 

London E20 1JN 

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