Every Vote Counts! A Friendly Reminder to Participate in the EPC 2012 ...

Every Vote Counts! A Friendly Reminder to Participate in the EPC 2012 Public Consultation on the Evolution of the SEPA Schemes

25 October 13

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In May 2012, the launched the annual public consultation on possible modifications to the Credit Transfer () and Direct Debit (SDD) Scheme Rulebooks. The encourages all Single Euro Payments Area () stakeholders to provide feedback by 13 August 2012. The and SDD Schemes evolve over time based on a transparent change management process adhered to by the . This evolution reflects changes in market needs and updates of technical standards. The annual scheme change management cycle offers all market participants a unique opportunity to shape the future of euro payments - so do not miss it!

For details on the principles governing the annual scheme change management cycle, refer to the Scheme Management Internal Rules (see below). The document contains a description of the internal organisation, structure, rules, and processes that make up the scheme management of the and SDD Schemes. Such processes cover administration and compliance, and scheme change management, including structured dialogue with stakeholders. The Scheme Management Internal Rules are considered an integral part of the scheme rulebooks.

Any stakeholder may introduce suggestions for changes to the and SDD Rulebooks. All suggestions for changes to the rulebooks are evaluated by the Payment Schemes Working Group and are consolidated into a single change request per rulebook (the Rulebook, the Rulebook and the SDD Business to Business (B2B) Rulebook):

In addition, the publishes a change request which details proposed changes to the Scheme Management Internal Rules:

Should you encounter any technical difficulties in accessing or completing the questionnaires, please contact the Secretariat at secretariat@epc-cep.eu. Proposed changes detailed in the change requests, which are broadly accepted by all stakeholders, are taken forward.

In February 2012, the European legislator adopted the ‘Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009' (the Regulation; see below). The and SDD Schemes will have to comply with the technical requirements detailed in Article 5 and in the Annex to the Regulation. Some of the change suggestions submitted with this year's public consultation have been introduced by the in order to ensure the schemes' compliance with the Regulation. For further details on the impact of the Regulation on the future evolution of the Schemes, refer also to the Newsletter article ‘The New European Decision-Making Landscape: How the European Commission Rules Through 'Delegated Acts'. Regulation empowers the European Commission to mandate technical requirements applicable to payment schemes' (see below).

The updated versions of the and SDD Rulebooks will be published in November 2012. In accordance with industry best practice, payment service providers and their suppliers have a one-year lead time to address rulebook updates prior to such updates taking effect.

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