From the longer Wikipedia page [1].
The Council of Wales and the Marches was a regional administrative body within the Kingdom of England between the 15th and 17th centuries, similar to the Council of the North. Its area of responsibility varied but generally covered all of modern Wales and the English counties of Shropshire, Herefordshire, Worcestershire and Gloucestershire.
The Council was initially responsible for governing the lands held under the Principality of Wales, the lands directly administered by the English crown following the Edwardian conquest of Wales in the 13th century. It was first established in 1472 by Edward IV of England as a body to counsel and act on behalf of his son, the infant Edward, Prince of Wales. King Edward had recently been restored to the monarchy during the Wars of the Roses, and he and his allies controlled most of the marcher lordships within and adjoining Wales. He established his son at Ludlow Castle, and appointed his allies from the Woodville and Stanley families as leading figures in the Council.
The Council continued after the death of Edward IV and the disappearance of his son. Under Henry VII, the Council was responsible for acting on behalf of his sons as successive Princes of Wales, first Arthur and then Henry (the future Henry VIII).