JROC
RegulatorsJoint Regulatory Oversight Committee
Definition
The Joint Regulatory Oversight Committee was established in April 2023 and is responsible for overseeing the next phase of Open Banking in the UK. The committee is co-chaired by the Financial Conduct Authority's Executive Director, Consumers and Competition, and the Payment System Regulator's Managing Director.
Related Terms
Frequently Asked Questions
What is Joint Regulatory Oversight Committee?
The Joint Regulatory Oversight Committee was established in April 2023 and is responsible for overseeing the next phase of Open Banking in the UK. The committee is co-chaired by the Financial Conduct Authority's Executive Director, Consumers and Competition, and the Payment System Regulator's Managing Director.
What does JROC stand for in Open Banking?
JROC stands for Joint Regulatory Oversight Committee. It is a fundamental concept in Open Banking and PSD2 regulations. The Joint Regulatory Oversight Committee was established in April 2023 and is responsible for overseeing the next phase of Open Banking in the UK. The committee is co-chaired by the Financial Conduct Authority's Executive Director, Consumers and Competition, and the Payment System Regulator's Managing Director.
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