SEPA Scheme Management Governance - ACT Response

Consultation from the European Payments Council

We have reviewed your paper on the proposed governance structure for the EPC which is designed to cover the future when the Scheme Management Entity (SME) becomes fully operational. We note that to a large extent it is concerned with establishing a process for adherence and compliance by the Scheme Participants and that it is not really appropriate for us to comment on these aspects.

However the members of the ACT work for companies that are likely to be customers of the banks and future users of SEPA so that we feel that we are best placed to comment on the aspects of Governance that cover ‘Stakeholders’.