This document sets out the details of a compliance failure by Cheque and Credit Clearing Company Ltd (C&CCC).

What was the compliance failure?

C&CCC failed to publish its board minutes for a number of different meetings during 2016 within an adequate timescale. This was a breach of our General Direction 6.

These breaches occurred despite us sending repeated reminders to C&CCC of their obligations to publish their board minutes and the importance of compliance with our General Directions.

What was the penalty?

We concluded that issuing a public censure against C&CCC is a suitable sanction in this particular case and will not impose any additional penalty. Further details are set out in the Decision Notice.

Who should read this?

This document is relevant to:

  • participants in regulated payment systems under FSBRA and;
  • anybody with an interest in our enforcement process
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