AN UPDATE - EPC Response to the Proposal for a SEPA Regulation

Position papers
Regulatory

This document (EPC467-10) details the amendments suggested by the European Payments Council () to the European Commission's proposal for a Regulation of the European Parliament and of the Council establishing technical requirements for credit transfers and direct debits in euros and amending Regulation (EC) No 924/2009 published on 16 December 2010 .

Version 1.0 of the response to the proposal was published in February 2011. Version 2.0 of this response is published in March 2011.

Following further evaluation of the possible implications of the proposal on the Direct Debit business model, the Plenary at its meeting on 23 March 2011 adopted the position

  • that article 6 (and related articles and recitals) should be removed from the proposal,
  • and that the 'November 2012' date mentioned in Regulation (EC) No 924/2009 should be removed from that regulation.

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