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Founding Legislation

Logo OSMP

The Observatory for the Security of Payment Means (OSMP – Observatoire de la sécurité des moyens de paiements) was created by Law 2016‑1691 of 9 December 2016, known as the Sapin II Law, and succeeded the Observatory for Payment Card Security (OSCP – Observatoire de la sécurité des cartes de paiement) created in 2001. The legislation governing the OSMP is set forth in the French Monetary and Financial Code (Code monétaire et financier).

 

Legal Basis

Composition of the Observatory

The composition of the Observatory is set out by in the article R.142-22 of the French Monetary and Financial Code. The Observatory is made up of :

  • a Deputy and a Senator ;
  • Eight general government representatives ;
  • The Governor of the Banque de France or his representative ;
  • The Secretary General of the Banking Commission or his/her representative ;
  • A representative of the French National Information Science and Liberties Commission ;
  • Fourteen representatives of payment means issuers ;
  • Five representatives of the Consumer Board of the National Consumers' Council (Conseil National de la Consommation) ;
  • Eight representatives of merchants, notably from the retail sector, the supermarket sector, mail-order sales and e-commerce ;
  • Two qualified prominent figures chosen for their expertise

The members of the Observatory, other than those representing the State, the Governor of the Banque de France and the Secretary General of the Banking Commission, are appointed for a period of three years.Their term of office is renewable once.

Updated on: 07/07/2017 11:38