Information session about fit and proper assessments DNB
On Tuesday 28th May from 3:00-4:45 PM CET DNB will organize an online information session about fit and proper assessments.
Read more Information session about fit and proper assessments DNBYou are using an outdated browser. DNB.nl works best with:
An electronic money institution is a company whose business it is to issue electronic money. This definition is based on section 1:1 of the Dutch Financial Supervision Act (Wet op het financeel toezicht – Wft). Only legal persons can apply to be authorised as an electronic money institution.
Published: 18 March 2022
Electronic money represents a monetary value that is stored electronically or magnetically. An electronic money institution stores the monetary value in a central accounting system (the enterprise's server), or it may be stored on an electronic carrier like a chip. This monetary value can then be used to make payments at other parties than the one that issued the electronic money.
Examples of electronic money include plastic gift vouchers that can be used to pay in shops and webshops.
There are three categories of electronic money institution.
Exempted electronic money institutions and excepted banks do not require a licence from DNB; other electronic money institutions do.
Authorisation permits electronic money institutions to pursue their activities in all countries of the European Economic Area. This is known as the single licence or European passporting arrangement. If electronic money institutions plan to expand their activities to other member states, they are required to notify the supervisory authorities of the member state where they have their registered offices. The supervisory authorities of their member state of origin will notify the supervisory authorities of the member state where they intend to launch their activities. Exempted electronic money institutions are not permitted to use the European passport and are not permitted to expand their activities outside the Netherlands.
On Tuesday 28th May from 3:00-4:45 PM CET DNB will organize an online information session about fit and proper assessments.
Read more Information session about fit and proper assessments DNBBased 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 How effectively do banks and payment institutions manage cyber risk?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 Sanctions Act examinations: room for improvement, but sector shows strong commitment to complianceDid 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.
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