SEPA Payment Schemes Management Rules
SEPA PAYMENT SCHEME MANAGEMENT RULES ........................................................................................................ 1
0. DOCUMENT INFORMATION .............................................................................................................................. 4
1. INTRODUCTION ................................................................................................................................................ 5
1.1 THE EUROPEAN PAYMENTS COUNCIL ("EPC") ........................................................................................................ 5
1.2 SEPA AND THE SEPA SCHEMES ........................................................................................................................... 6
1.3 SEPA PAYMENT SCHEME MANAGEMENT ............................................................................................................... 7
1.4 FEES ................................................................................................................................................................ 8
2. SCHEME MANAGEMENT ROLES AND RESPONSIBILITIES ................................................................................... 9
2.1 ROLE OF THE SCHEME MANAGEMENT BOARD ......................................................................................................... 9
2.2 ROLE OF THE PAYMENT SCHEME PARTICIPANTS ASSEMBLY ........................................................................................ 9
3. SCHEME MANAGEMENT BOARD .................................................................................................................... 10
3.1.1 Composition of the SMB ......................................................................................................................... 10
3.1.2 Duration of Appointment ........................................................................................................................ 10
3.1.3 Termination of Appointment by decision of the EPC Board .................................................................... 10
3.1.4 Criteria for Membership (Scheme Participant representative member) ................................................ 11
3.1.5 Criteria for Membership (Independent Member) ................................................................................... 11
3.1.6 Criteria for Membership (Chair) .............................................................................................................. 11
3.1.7 Duties of SMB Members ......................................................................................................................... 12
3.1.8 EPC Board Role in Policy of SMB ............................................................................................................. 12
3.1.9 Meetings of the SMB .............................................................................................................................. 12
3.1.10 Quorum ................................................................................................................................................... 13
3.1.11 Voting ..................................................................................................................................................... 13
3.1.12 Nominating Process ................................................................................................................................ 14
3.1.13 Role of the Secretariat ............................................................................................................................ 14
3.1.14 Information Service ................................................................................................................................. 15
3.1.15 Additional Optional Services ("AOS") ...................................................................................................... 15
3.1.16 Expenses ................................................................................................................................................. 15
3.1.17 Record Keeping ....................................................................................................................................... 15
3.2 DEFINITION OF ADMINISTRATION ROLE ................................................................................................................ 15
3.2.1 Role of the Secretariat ............................................................................................................................ 15
3.2.2 Rules for Adherence ................................................................................................................................ 16
4. MAINTENANCE AND EVOLUTION.................................................................................................................... 20
4.1 CHANGE MANAGEMENT PROCESS ....................................................................................................................... 20
4.1.1 Change Management - Guiding Principles ............................................................................................. 20
4.1.2 Change Management - Terminology ...................................................................................................... 20
4.1.3 Role of SMB and Scheme Evolution and Maintenance Working Group .................................................. 21
4.1.4 Submission of Change Requests to the Secretariat ................................................................................ 21
4.1.5 Acknowledgement of Receipt of a Change Request ............................................................................... 22
4.1.6 Consideration of a Change Request ........................................................................................................ 22
4.1.7 Publication of Change Requests ............................................................................................................. 23
4.2 PROCESS FOR MAJOR RULEBOOK CHANGES .......................................................................................................... 23
4.2.1 Preparation of SEMWG Recommendation ............................................................................................. 23
4.2.2 Dialogue .................................................................................................................................................. 24
4.2.3 Public Consultation on Change Request ................................................................................................. 25
4.2.4 Process following Public Consultation .................................................................................................... 25
4.2.5 SMB Deliberations on the SEMWG Change Proposal Submission Document and on the Positions from the
EPC Stakeholder Fora .............................................................................................................................. 26
4.2.6 Publication .............................................................................................................................................. 26
4.2.7 Change Release Process Cycle ................................................................................................................ 26
4.2.8 Exceptional Change ................................................................................................................................ 27
4.2.9 Change for Regulatory Reasons .............................................................................................................. 27
4.3 PROCESS FOR MINOR RULEBOOK CHANGES .......................................................................................................... 28
4.4 EPC STAKEHOLDER FORA .................................................................................................................................. 28
4.5 PROCESS FOR CHANGES TO THE RISK MANAGEMENT ANNEX (RMA) ................................................................................. 29
5. APPENDIX 1 – IMPACT ANALYSIS .................................................................................................................... 30