As part of the market review into the supply of card-acquiring services (the Market Review), the Payment Systems Regulator (PSR) commissioned IFF Research to conduct a quantitative survey of small and medium sized merchants. The PSR used and took into account the results of the survey in producing its interim report published in September 2020.
Following a request by a party, the PSR has, pursuant to section 92 of the Financial Services (Banking Reform) Act 2013 (FSBRA), decided to disclose the material underlying the survey results to certain parties by way of a confidentiality ring (Confidentiality Ring) for the purpose of assisting the PSR in carrying out its functions under Part 5 of FSBRA by allowing the parties’ advisers an opportunity to review and understand the information provided and intelligently respond to the provisional findings in the Market Review. This is in addition to the PSR’s earlier decision to disclose certain material underlying its pass-through analysis.
The PSR is now inviting interested parties to submit expressions of interest for their external legal and/or economic advisers to access the Confidentiality Ring. It is also inviting parties expressing an interest to submit any comments they may have on the PSR’s proposed approach to disclosing the material. Any expressions of interest together with any comments interested parties have on the PSR’s proposed approach to disclosing the material must be submitted by 5pm on 4 December.