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<p>As set out in the Government amendments to the Banking Reform Bill, the Financial Conduct Authority will be responsible for appointing the chair and managing director of the Payment Systems Regulator, subject to Treasury approval. The Financial Conduct Authority will set out the exact process for doing this in due course. Given that the managing director of the PSR will be an executive, appointed by the FCA, there are no plans for the appointment to be subject to a pre-appointment hearing at the Treasury Select Committee.</p> |