The EPC opened public consultation EPC009-26 on March 13, 2026, seeking market feedback on five proposed amendments to the SCT Inst scheme rulebook. The most significant change would expand originator and beneficiary name fields from 70 to 140 characters. This expansion aligns with the 2019 ISO 20022 standard. The current 70-character limit restricts PSPs whose customers have lengthy names or legal entity designations.
Three of the five proposals target fraud and error recovery. A new partial fraud recall mechanism would allow beneficiary PSPs to return a portion of a transferred amount in fraud cases. A separate change request introduces a beneficiary-initiated repayment procedure, giving receiving PSPs a formal mechanism to return funds without waiting for an originator recall request. The third recall-related change would extend timelines for duplicate and technical error recalls.
The fifth change request addresses long-term technical alignment by migrating the SCT Inst scheme to the latest ISO 20022 standard version, targeted for the 2029 rulebooks. The EPC will evaluate all consultation responses and present results to the EPC Board in the second half of 2026. Approved changes are scheduled for publication in the November 2026 rulebook edition. Mandatory compliance for all scheme participants begins November 1, 2027.