Retained EU Law SI 2018/72 United Kingdom

Commission Delegated Regulation (EU) 2018/72 of 4 October 2017 supplementing Regulation (EU) 2015/751 of the European Parliament and of the Council on interchange fees for card-based payment transactions with regard to regulatory technical standards establishing the requirements to be complied with by payment card schemes and processing entities to ensure the application of independence requirements in terms of accounting, organisation and decision-making process (Text with EEA relevance)

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person10 Employer2

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Employer — also bound by 682 other Acts
TULRCA 1992 72 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art003 Financial information Regulated
  • Set up accounting processes for separate profit and loss accountsAny Person
s.art005 Documentation of transfer of financial resources between payment card schemes and processing entities Regulated
  • Document financial transfers between your scheme and processing entitiesAny Person
s.art007 Functional separation Regulated
  • Organise payment scheme and processing into separate internal unitsAny Person
s.art008 Separation of workspaces Regulated
  • Separate workspaces for payment card schemes and processing entitiesAny Person
s.art010 Independence of staff Regulated
  • Keep payment scheme staff separate from processing staffEmployer
s.art011 Remuneration Regulated
  • Adopt fair remuneration policies that avoid preferential treatmentEmployer
s.art012 Use of shared services Regulated
  • Create and maintain a document listing shared services and their conditionsAny Person
s.art013 Use of a shared information management system Regulated
  • Ensure shared information management system has separate authentication and access controlsAny Person
s.art014 Sensitive information Regulated
  • Do not share sensitive competitive information unless shared with all competitorsAny Person
s.art015 Code of conduct Regulated
  • Publish a code of conduct for staff compliance with interchange fee rulesAny Person
s.art016 Independence of the management bodies Regulated
  • Ensure independent management bodies to avoid conflicts of interestAny Person
s.art017 Annual operating plan independence Regulated
  • Maintain separate annual budgets for your card scheme or processing entityAny Person
6 other provisions — procedural and definitional
s.art001 Subject matter
s.art002 Definitions
s.art004 Allocation of expenses and revenues
s.art006 Review and frequency of financial information
s.art009 Independence of senior management
s.art018 Entry into force

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.