We consulted on a draft version of this specific direction in our consultation PSR CP19/4.
We ran the consultation from 9 May 2019 to 5 June 2019.
In this document, we discuss the responses we received and outline our conclusion.
Taking into account the submissions we received, we consider that proceeding with the specific direction is the right thing to do and we have now given Specific Direction 10 requiring the implementation of Confirmation of Payee.
PS19/4 - Specific Direction 10 (Confirmation of Payee)
Important notice: We issued Specific Direction 10 in a varied form on 14 February 2020.
CP19/4 - Confirmation of Payee - Response to the first consultation and draft specific direction for further consultation
We are consulting on giving a specific direction for the implementation of Confirmation of Payee (CoP).