Chapter 3: Accountability of regulators Payment Systems Regulator’s powers Section 52: Chair of the Payment Systems Regulator as member of the FCA Board
This section amends FSMA 2000 to make the chair of the PSR board (the PSR Chair) an ex-officio member of the FCA Board.
	Subsection 4 provides for the PSR Chair to be a non-executive member of the governing body of the FCA (the FCA Board).
	Subsection 5 ensures that the same provisions applying in relation to the Bank of England’s Deputy Governor for prudential regulation apply to the PSR Chair. This includes prohibiting an employee of the PSR being appointed as a member of the FCA Board and allowing for the FCA to pay expenses to the PSR Chair in respect to their service as a member of the FCA Board.
	Subsection 6 ensures that the validity of any act of the FCA is not affected by vacancy or defects in the appointment of the PSR Chair to the FCA Board.
	Subsection 7 prohibits the PSR Chair, from taking part in discussions or decisions relating to the exercise of the FCA’s function in relation to a particular person, unless the PSR Chair is also the chair of the FCA Board.