PSA Code 15 comes into force


INSIGHT
Published
Apr 5th '22
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Phone-paid Services Authority (PSA) formally launches 15th Code of Practice.

 

Code 15 represents a significant shift in the way the PSA regulate. Through Code 15, the PSA intend to raise standards in the market, prevent harm in the first place, enable simpler compliance and, where they must, enforce smarter.

 

The PSA is shifting resources to work with you to proactively prevent harm and maintain compliance. And where they have to enforce, the PSA intend to use their new Engagement powers to address issues quickly, where it is appropriate to do so.

 

The PSA is also launching a number of changes to their website to help you stay compliant:

 

  1. Integrated Guidance with the Code
    Code 15 is intended to be easier to comply with. As part of this, the PSA have a fully interactive version of the Codeonline, which allows you to navigate the Code more easily. They’ve also integrated relevant Guidance into the interactive Code. So, if for example you’re looking at the Transparency Standard, you’ll find relevant sections of the Guidance alongside the Standard. Look out for the yellow Guidance-tagged dropdowns.

 

 

Integrated relevant Guidance into the interactive Code so it’s easier to navigate.
Look out for the yellow Guidance-tagged dropdowns. 

 

For those of you who prefer PDFs, they have the full range available to download as well.

 

  1. Updated PSA Registration systems
    You are now required to provide more information at registration. Networks, intermediaries and merchants need to provide contacts details of individuals responsible for certain aspects of compliance. For example, intermediaries need to provide contact details of the person with primary responsibility for due diligence, risk assessment and control. The PSA has introduced new fields in the system for you to do this. You’ll also find text that help explain what is expected embedded within the page.

 

 

You are now required to provide more information at registration.

 

Please update your information as soon as you can. Need further help? The PSA have a registration help guide here and you can email the registration team. They’re constantly improving the registration system and have a number of new features in the pipeline.

 

  1. Changed the Adjudications section of the website to Regulatory decisions
    In the interest of transparency and good regulation, the PSA has expanded this area of the website so that you can get more information about existing Enforcement activities. They’ll continue to publish the outcome of Tribunals and will also now publish Warning Letters and Action plans where they think it is necessary and proportionate, and where relevant providers have had the opportunity to make representations.

 

A list of newly opened Enforcement cases (which includes prohibition cases for named individuals) will also be published here. By the end of the April, the PSA intend to backdate this list to include ongoing and existing Code 14 Track 2 cases as these will now follow Code 15 Procedures. The Regulatory decisions section of the website can be found from the main menu.

 

 

Changed the ‘Adjudications’ section of thew PSA website to ‘Regulatory decisions’. 

 

  1. Improved PSADue Diligence Reports

Due Diligence Reports have been broadened to enable more effective risk assessment. Reports will now include:

 

  • allocated Enforcement cases
  • adjudications and settlements
  • prohibitions
  • bars
  • outcomes of Engagement process, including Warning Letters and Action Plans, where appropriate
  • information about active phone-paid services
  • information about responsible persons and their related organisations histories.

 

For more information about the Code, see the dedicated pages on the website. There are also recordings of the Code 15 industry seminarsonline In addition, providers can email the PSA compliance teamif they have questions about your requirements, need clarification or want to discuss tailoring regulation in the interest of consumers.

 

Source: PSA

 

Background

Code 15 came into force on 5 April 2022. Download Code 15 (PDF) or access the interactive version

 

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