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Payment Systems Regulator makes three senior hires

The Payment Systems Regulator, which will regulate the £75trn payment systems industry from April, has appointed three heads of department.

Carole Begent joins as head of legal from the Competition and Markets Authority, where she is senior legal director. She has previously worked for the Competition Commission where she was deputy chief legal adviser.

Mark Falcon joins as head of regulatory policy and strategy from mobile network operator Three where he is head of economic regulation. He is also a specialist adviser to the Treasury select committee.

And Louise Buckley joins the regulator as head of stakeholder engagement and communications, from Stracey Wheeler Consulting where she is a director and senior communications consultant.

She has previously worked for the Department for Business Innovation and Skills as director of stakeholder and ministerial engagement.

Payment systems enable consumers to spend and transfer money. The PSR will regulate the following: Bacs, CHAPS, Cheque and Credit Clearing, Faster Payments, LINK, MasterCard, Northern Ireland Cheque Clearing and Visa.

It becomes fully operational in April and will be funded by the firms it regulates, with fees collected by the FCA.

PSR managing director Hannah Nixon says: “Carole, Mark and Louise bring with them a wealth of experience that will be invaluable in helping deliver our objectives of promoting competition and innovation in payment systems, and ensuring the interests of service users are always at heart.

“Our focus is now on finalising our approach then delivering it as we go live in April. Carole, Mark, and Louise will play vital roles in driving forward this agenda.”

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