Press Release: Antitrust: Commission consults on draft guidance for Single Euro Payments Area (SEPA) Direct Debit scheme

The European Commission invited comments on a Commission working document that aims to provide further guidance to participants in the SEPA Direct Debit (SDD) scheme to ensure that collective financing arrangements applied within this scheme comply with EC Treaty competition rules. The SDD scheme, launched by the European Payments Council (EPC) on 2 November 2009, allows consumers and businesses, for the first time, to use a pan-European system for cross-border direct debit transactions. The working document complements indications as regards competition rules already given in Council and European Parliament Regulation 924/2009 on cross-border payment and in the joint Commission/European Central Bank press release and statements of September 2008 and March 2009. Comments can be submitted until 14 December 2009. The public consultation reflects the Commission's commitment to remain in close dialogue with all relevant stakeholders. Following these consultations the Commission may, if appropriate, decide to adopt final guidance.

ESO: Background information: Website: Single euro payments area (SEPA) http://www.europeansources.info/record/website-single-euro-payments-area-sepa/

European Commission: MEMO/09/489: SEPA Direct Debit Launch – Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/489&format=HTML&aged=0&language=EN&guiLanguage=en

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