Governance Review

PAYMENTS COUNCIL OPENS CONSULTATION FOR GOVERNANCE REVIEW AND ASSESSMENT OF PERFORMANCE

The Payments Council has opened a public consultation on its performance and the way it is run, as part of a comprehensive review to be published in the spring.

The Payments Council‘s unique role ensuring that payment systems work for everyone means that we need to always listen to the wide range of stakeholders with an interest in the payments industry. This is why we have made a questionnaire on our governance and performance available to anyone who would like to contribute to the review.

When the Payments Council was established in 2007, it was agreed that the Office of Fair Trading (OFT) would review our structure after two years. In March 2009, the OFT published its recommendations, one of which was that the Payments Council should conduct  its own review in 2011, to see how we are performing, and whether our governance structure is still appropriate for the work we do.

This consultation is part of the review that we have been asked to carry out. To make sure all our stakeholders are able to contribute frankly and openly, the review is being led by Professor Martin Cave, an independent director of the Payments Council since it was set up in 2007. Professor Cave  will be stepping down from the Board when this review is published, having reached the end of his term.

GOVERNANCE REVIEW AND ASSESSMENT OF PERFORMANCE: A CONSULTATION PAPER

The consultation period for the review for formal responses has now closed and the submissions are being considered. We would like to thank everybody who took the time to send in a response as we appreciate your feedback. The final report with recommendations from Professor Cave will be published in the spring.