The European Banking Authority has published final Guidelines on the information to be provided for the authorization of payment institutions and electronic money institutions, and for the registration of account information service providers. The revised Payment Service Directive - PSD2 - sets out the information that must be submitted to national regulators with applications for authorization or registration. The Guidelines are divided into four sets, one for payment institutions, one for e-money institutions, one for account information service providers and one for national regulators. The Guidelines cover, among other things, information requirements on an applicant's program of operations, business plans, evidence of initial capital, governance and internal control mechanisms and data protection.
The Guidelines apply from January 13, 2018.
View the Guidelines.
