Based on self-assessments and examinations, we have assessed how effectively banks and payment institutions are managing cyber risk. We observed three areas that currently need additional attention.Read more
Legislation and regulations governing market access for electronic money institutions
Published: 18 March 2022
This page provides an overview of the legislation governing market access for electronic money institutions, as well as the accompanying guidance that DNB has prepared.
- Relevant sections of the law for applications for authorisation as an electronic money institution
- Guidance to the relevant legislation:
- Guidance to the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en het financieren van terrorisme - Wwft) and the Sanctions Act (Sanctiewet)
- User guide to developing an effective systematic integrity risk analysis (SIRA)
Financial Supervision Act
Supervision of electronic money institutions and their market access in the Netherlands is governed by the Financial Supervision Act. The Financial Supervision Act also stipulates that electronic money institutions must have been granted authorisation to pursue the business of an electronic money institution. The authorisation requirement and the supervision of electronic money institutions are based on the European Electronic Money Directive (2009/110/EC). DNB is responsible for issuing authorisations and exercising prudential supervision of electronic money institutions. The Netherlands Authority for the Financial Markets is responsible for supervision of market conduct.
Applying for authorisation
DNB has conducted a series of examinations to assess financial institutions’ compliance with sanctions regulations and, more specifically, whether their compliance operations are fit for purpose. We are happy to share the results of these investigations.Read more
Did you know that you can track the status of your assessment application in My DNB? As of 11 May 2023 you can see the status of your assessment application in My DNB – Supervisory Applications Service.Read more
De Nederlandsche Bank’s (DNB) new Guide to managing climate and environmental risks provides the financial sector with focal points and good practices. The Guide incorporates feedback from the sector and NGOs collected during the consultation round.Read more