Scott Farrell appointed to the Payments System Board

  • By Zilla Efrat

Scott Farrell has been appointed as a part‑time member of the Payments System Board (PSB) for a five‑year period.

The PSB has responsibility for determining the Reserve Bank of Australia's payments system policy.

Farrell led the government's Review of the Australian Payments System in 2021, as well as the government’s review into open banking in Australia in 2017 and the inquiry into future directions for the consumer data right in 2020.

He has more than 20 years of experience in financial markets and financial systems law.

He is currently a partner at King and Wood Mallesons, where he specialises in financial markets and financial systems law, advising market participants, exchanges, clearing and payment systems, regulators and governments in Australia and Asia.

Farrell is also currently on the board of Industry, Innovation and Science Australia and a member of the government’s Ministerial Advisory Council on Free Trade Agreements.