EPC agrees composition of Scheme Management Committee

EPC agrees composition of Scheme Management Committee

24 October 13

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At its Plenary meeting on 28 September 2007, the voted on the composition of its new Scheme Management Committee (SMC) by selecting three independent members and nine bankers. Each member will hold office for a term of 3 years, with the possibility of re-election for a further term of 3 years.

The elected independent members are:

  • Mrs Myra Kinghorn, former Chief Executive of the Board of the Pension Protection fund and Non-executive Director of the UK’s Serious Fraud Office – Mrs Kinghorn was also elected as Chair of the SMC
  • Mr Othmar Karas, an active European Parliament Member from Austria, closely involved in the preparation of the Payments Services Directive
  • Mr Jacob Koning, a former member of the Governing Board of the Dutch Central Bank and currently independent chair of the Supervisory Board of Currence Holding B.V. in The Netherlands.

The banking members are: Mr Paolo Abbo of Banca Monte dei Paschi di Siena (Italy), Ms Roxana Anescu of UniCredit - Tiriac Bank (Romania),  Mr Vitor Bento of SIBS (Portugal), Mr Jean-Michel Bossin of Société Générale (France), Mr Juan José Burgos Burgos of CECA (Spain), Mr Thomas Egner of Commerzbank AG (Germany), Mr Gerhard Singer of Deutsche Bank AG (Germany), Mr Renzo Vanetti of the SIA-SSB (Italy) and Mr Drasko Veselinovic of the Dezelna banka in Slovenia.

The Scheme Management committee deals with the administration of the Schemes and the process of ensuring compliance with their rules, as set out in the Credit Transfer Rulebook (and, eventually the Direct Debit Rulebook). The Scheme Management Internal Rules (annexed to the Scheme Rulebooks) describe in detail the roles and responsibilities of the SMC.

The SMC will meet in Brussels for the first time on 24 October and thereafter at fortnightly intervals until year-end, with the main activity being to approve the adherence agreements received and processed.

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