Morrow To Supervise Retail Payments

Ron Morrow is executive director – retail payments supervision at the Bank of Canada, effective August 9. This executive-level position has been created to support the bank’s new mandate to supervise retail payment service providers (PSPs), as per the Retail Payment Activities Act. Under this act, the bank will be responsible for supervising PSPs to protect end users and help ensure the safety and reliability of PSP services. He joined the bank in 1992 and has worked in several different areas including monetary policy, financial stability, and funds management functions.