We are publishing the responses we received to our consultation in January 2020 about our proposal to vary our Specific Direction 10 on Confirmation of Payee. We are also publishing our decision to give SD10 in the varied form we proposed in our consultation but with one change. That change is to make clear that we will always impose a new date for compliance with SD 10’s requirements if we approve an exemption under the additional basis.
Full stakeholder submissions to our consultation on varying Specific Direction 10 have also been published.
Specific Direction 10 (Confirmation of Payee) (Varied February 2020)
We are giving a revised specific direction to members of the UK’s six largest banking groups to fully implement Confirmation of Payee (CoP) by 31 March 2020.
CP20/1- Confirmation of Payee: Proposal to vary Specific Direction 10
We are consulting on a proposal to vary our Specific Direction 10 on 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.